According to reports, the newly introduced Fiscal Policy Measures, which specify a new excise regime for makers of non-alcoholic beverages, alcoholic beverages, cigarettes and tobacco products, are worsening the crisis in the Nigerian manufacturing sector, which is already grappling with the issue of factory closures as well as the relocation of firms to neighbouring countries. To avert further strains on the economy, the time to dialogue with stakeholders is now, writes Festus Akanbi
At the 28th edition of the Nigerian Economic Summit Group (NESG) which was held last week, one issue raised by President Muhammadu Buhari while declaring the summit open was Nigeria’s challenged revenue base which has pushed the nation’s economic managers to opt for borrowing, issuance of new taxes and levies and the adoption of fiscal discipline.
The president also did not miss the opportunity to restate the commitment of his administration to shore up Nigeria’s revenue levels and…
Source: Thisday Newspaper