The Manufacturers Association of Nigeria, Ogun State Branch, has urged the state government to harmonise multiple taxes and regulatory charges, warning that the current business environment was increasing production costs and discouraging investment.
The association also called on the government to revive its quarterly engagement forum with manufacturers to strengthen collaboration and address operational challenges affecting industries.
The outgoing Chairman of MAN in the state George Onafowokan, made the appeal on Thursday during the association’s 41st Annual General Meeting in Abeokuta, themed “Building a Resilient Manufacturing Sector: Surmounting the Challenges of Fiscal and Regulatory Policies and Tariffs.”
Onafowokan said manufacturers were grappling with exchange rate volatility, inflation, rising energy costs, high lending rates, multiple taxation and an increasingly burdensome regulatory environment.
While acknowledging that recent economic reforms had improved government revenue, he noted that they had also increased the cost of doing business.
He described energy as one of the
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