Review anti-business policies, NACCIMA tells FG

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture has urged the government to reconsider policies that stifled business establishments last year.Information Guide Nigeria

The association’s president, John Udeagbala, mentioned this in his new year address, noting that 2022 will be a year distinguished by considerable economic challenges, including a post-covid-19 recovery and the ongoing Russia-Ukraine war, which has contributed to the world’s spiralling inflation.

According to him, the country in 2022 will face high energy costs, a broad increase in the cost of doing business, an exorbitant rise in the price of products and services, a rise in government debts with weak GDP growth and high-interest rates, all of which will harm the private sector.JAMB Result

He also stated that the resulting hard economic environment has had a significant impact on numerous enterprises, with many of them fighting to survive.

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All of this, he claims, has resulted in growing inflation and a high unemployment rate, while wage levels have remained stagnant or declined in real terms due to the weakness of the local currency.

Udeagbala said, “Despite all the above we must continue to weather through the Nigerian economic stormy clouds through advocacy for policies that will enhance the ease of doing business. The unfavourable economic environment should give the government serious concerns and stress the need to partner with the private sector in enunciating policies that will enhance feasible solutions to the economic challenges facing the country.NYSC portal

“The new year 2023 opens a window for the government to appropriately review and jettison policies that have suffocated viable business establishments and have had drawbacks on well-established private companies that are presently struggling. NACCIMA being a leading member of the OPSN is willing to partner with the government on ways to ensure economic growth and transformation in the country.”JAMB portal

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