MAN Canvasses Tax Waivers for Local Manufacturers
The Manufacturers Association of Nigeria (MAN) has canvassed tax waivers for local manufacturers to hedge them against the onslaught of foreign companies.
MAN president for Kwara and Kogi states, Princess Omolola Olobayo, last week, said in Ilorin, that the local manufacturers might soon be forced out of production due to unfavourable policies of the government.
She listed the unfavourable government policies to include heavy taxation, lack of incentives and delay of clearing raw materials at the seaports.
She said the development, if not looked into and considered, could lead to increase in unemployment level, as industrialists would be forced to downsize.
Olobayo, who spoke with reporters after the 2013 Customers Forum, organised by Doyin Investments, faulted certain exclusive reforms by the government, saying that such reforms were affecting companies production capacity and also killing the morale of young and local manufacturers.
“The reforms at the ports are giving us problems. Our raw materials are not cleared on time and we pay more money on import duty, and this is badly affecting our production and having dire consequences on us.”
According to her, the reforms are being implemented un-announced, the association has officially reported to the federal government but we are yet to a reprieve.
Olobayo urged Nigeria to emulate China where manufacturers were granted tax waivers for five years to encourage them to be in business.
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