Employers Union decries high cost of doing business

Food, Beverage and Tobacco Employers (AFBTE) Union have lamented the rising cost of doing business in Nigeria.

The group said that the last one year had been toxic, pointing out that although Nigeria has emerged from a 15-month recession, the economy was still fragile.

Speaking at the association’s Annual General Meeting (AGM) in Lagos, the President of AFBTE, chief Patrick Anegbe, listed part of the challenges to running a business in the country to include, high infrastructural cost due to non-availability or inadequate infrastructure, inconsistent imposition of multiple taxes, foreign exchange scarcity and disruption of petroleum products supply.

“In general, the business environment has remained uninspiring. Due to this, the industry recorded quite a number of job losses in 2017 because of closure of some production lines due to unbearable costs,” he said.

Anegbe, however, noted that the intervention of the Organised Private Sector (OPS) through engagement with the government had helped to stabilize the interruptions of business operations.

The Association President said that the manufacturing sector played a pivotal role in the exit of the country from the recession and therefore deserves all the support to attain full capacity.

Anegbe thanked members of the association for their cooperation in the past year and assured employees of harmonized salaries/wages and fringe benefits to impact on worker’s welfare packages.

The President of the Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs, advised the Federal Government to sustain and deepen existing reforms to translate into low cost of doing business.

Jacobs, who was represented by Mr. Segun Ogundipe, said power related challenges affecting industries and improvement of the operational environment were issues that must be solved in order to achieve the ease of doing business in the country.

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