Breaking News

FG urged to address relocation of industries to Ghana

By Ifeyinwa Obi

The immediate past President of the Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, has appealed to the Federal Government to work hard to stop relocation of industries from the country to Ghana.
He said government should concentrate on development of infrastructure to discourage the industrialists from relocating

Nzekwe explained that some industries were being moved to the neighbouring countries including Ghana because of the conducive investment climate there.

According to Nzekwe, the development of essential infrastructure should be as quick as possible especially now that the nation was willing to be among the best 20 economies by year 2020.
While calling on government to expedite action in providing uninterrupted power supply, security and education, Nzekwe expressed worry that up till now, government had not taken drastic action to address the issue of inadequate power supply and other infrastructure.
If government was slow in providing the needed infrastructure, he said, the entire industries would have left and it would take many years to lure them back.

He added that the government should create a conducive environment for the development of the real sector including agriculture. According to him, the development should be as quick as possible.
“If we have regular power supply, if we have good roads, these would solve most of the problems, he added. If there is power supply regularly, some unemployed youths would be engaged in one work or the other, Nzekwe said.
For him, it is a shame that factories are closing down in Nigeria , opening in Ghana and other West African countries and exporting the goods to Nigeria, adding that it was a surprise that most of the goods produced in Ghana were being brought into Nigeria for sale.

“We named them Ghana must go but few years after, they got it right,” the former ANAN President said.
He urged the government to review the multiple tax regime system in the country, saying that industrialists were running away due to multiple taxation. “The Joint Tax Board should be able to harmonise the tax system.’’he said


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.