The Lagos Chamber of Commerce and Industry (LCCI) has commended the efforts of the Federal Government in formulating policies and interventions to create an enabling environment for enhanced national prosperity.
The LCCI President, Dr Michael Olawale-Cole, said the Chamber was committed to supporting initiatives of the President Bola Tinubu administration to spur economic growth and development.
Olawale-Cole lauded the President’s appreciation and recognition of the role of the Organised Private Sector (OPS) in the realisation of the socio-economic objectives of Nigeria.
He expressed concerns over the proposed merger of the Nigerian Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS), and Nigeria Customs Services (NCS) into the Nigerian Revenue Services (NRS).
He urged government to ensure that implementing the proposed merger does not impede the ease of doing business.
Olawale-Cole also lauded government on the recently signed executive orders, which would curb arbitrary taxation policies.
He stated that the recent appointment of Taiwo Oyedele as Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms established to remove barriers impeding business growth in Nigeria was decisive affirmative action.
Olawale-Cole said the pronouncement showed the President recognised the importance of a sound fiscal policy environment and an effective taxation system for the functioning of the economy.
He emphasised the importance for the committee to focus on expanding the tax net to avoid overburdening existing taxpayers.
He added that other issues of revenue leakages, such as oil theft, should also be properly addressed.
The LCCI President said the Chamber was available to work with the Presidency with respect to policy formulation and implementation in the direction of a more robust economy for the nation.
He looked forward to seeing more policy interventions to promote an enabling environment for the private sector to thrive.
In summary, the LCCI has commended the Federal Government’s efforts to improve the economy, but it has also expressed concerns about the proposed merger of NIMASA, FIRS, and NCS, and it has urged the government to address revenue leakages. The Chamber is committed to working with the government to create a more conducive environment for businesses to thrive.
LCCI backs FG’s move to enhance business environment
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