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Manufacturers seek speedy implementation of industrial incentives

By NKIRUKA NNOROM

Manufacturers, under the auspices of Manufacturers Association of Nigeria, Ogun State Chapter, have called on both the federal and state governments to accelerate the implementation of the recently reviewed industrial incentives.

They also appealed to the government to gear more effort towards the development of the small and medium scale enterprises, saying that the promotion of the sub-sector holds the key to inclusive growth of the nation’s economy.

Speaking at the 2013 Chief Executive Officers and Managing Directors’ business luncheon at Ota, Ogun State, the association’s chairman, Mr. D.B Ogutuga, represented by the Vice-chairman, Mr. Wale Adegbite, said there is need for Ogun State government to provide an enabling environment that is conducive for industries in the state to thrive, while decrying constant harassment by government agencies.

“Government should implement investment incentives like tax holidays, tax reduction, location incentives. Government should also harmonise taxes and implement Joint Tax Board Act 21 of 1998.

“These will provide investment guarantee packages for specific industries, particularly for those in the small and medium enterprises categories. The implementation of these incentives in Ogun State should be accelerated,” he said.

He added, “There are unchecked and arbitrary introduction of new taxes and levies by the state and local government councils, thus creating a situation of uncertainty and ambiguity. These taxes and levies are contrary to the constitution of Nigeria.

Our businesses are constantly being disrupted and we are constantly under the threat of closing down our factories for non-payment of illegal taxes and levies.”

Ogutuga stated that Ogun State and Nigeria as a whole require a lot of fine-tuning in order to reduce the tardiness being witnessed in the manufacturing sector and the consequent prevailing high cost of production, which renders Nigerian industries uncompetitive.

In his words, “Government must speedily take actions aimed at boosting production and subsequent generation of employment to check the increasing discontent in the society, which have manifested in different forms of social malaise.”


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