...as state government pledges business reforms
Ogun state manufacturers have renewed calls for the harmonisation of taxes and levies, improved infrastructure and a more predictable regulatory environment to boost industrial competitiveness.
They warned that rising compliance costs, multiple taxation and policy uncertainties continue to erode profitability despite recent fiscal reforms.
The concerns dominated discussions at the 41st Annual General Meeting of the Manufacturers Association of Nigeria, MAN, Ogun State Branch held Thursday in Abeokuta.
They urged governments at all levels to prioritise policy consistency, affordable energy and targeted infrastructure investments to sustain growth in Nigeria’s manufacturing sector.
Speaking at the event, George Onafowokan, outgoing chairman of MAN Ogun Branch, lamented that manufacturers continue to grapple with exchange rate volatility, persistent inflation, high borrowing costs, unreliable electricity supply, multiple taxation and overlapping regulatory demands that have significantly increased production costs.
Onafowokan noted that many manufacturers had been compelled to rely on
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