According to her, the present tenuous and fragile business environment has been a result of inappropriate and poorly implemented policies and interventions. There are fiscal policy gaps, unsuitable monetary policies, and administrative inefficiencies which are inimical to the proper functioning of the economy. These should be reviewed and urgently reversed for immediate gains.
She pointed out that the government should sustain interventions in select sectors like agriculture, manufacturing, and export to boost the nation’s foreign exchange earnings capacity. She also urged the government to keep track of the plans to tackle the menace of oil theft and to boost oil exports.
The president of Manufacturers Association of Nigeria , Otunba Francis Meshioye, advised the new president to, as a matter of urgency, reverse with immediate effect, the 2023 fiscal policy measure that raises taxes on beverages and tobacco while also address the issue of multiple taxes in the country.
Speaking further, he urged the new administration to give tariff preferential treatment to the motor vehicle and assembly sector pending the development of the iron and steel sector; revisit and reactivate dormant export incentives and engage and dialogue with the key stakeholders in the manufacturing sector on overcoming the challenges troubling the sector.
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