Business Hilights

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Udoma, Buhari, Adeosun

Survey shows Nigerians tired of FG’s promises in growing ease of doing business

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A random survey carried out by Business Hilights Economic Team  on the acceptability and effectiveness of federal government’s policies and activities in driving ease of doing business since the beginning of the year has shown that Nigerians are beginning to lose trust and followership in governments ‘pronouncements bordering on ease of doing business’.

Out of over 1,000 Lagos and Abuja based business operators who responded to questionnaires, over 90 per cent said ‘We are tired of hearing promises; we want to see actions that truly translate to real life situation that will grow their different businesses’.

Their answers on the continued wave of promises from ministers and presidential aides and no actions are divided as whereas about 55 per cent argue that ‘cluelessness in how to drive ease of doing businesses’ remains a major issue, about 40 per cent say ‘preparations to start implementing policies that will drive ease of doing business is unnecessarily over flogged or delayed’.

Majority want actions that will speak louder than voices of ministers, presidential aides and all MDAs; actions that can show that there are true policies capable of raising ease of doing business in Nigeria.

Just as the survey respondents presented, over the weekend, the Federal Government said is planning to provide incentives to support industrial hubs, and review local fiscal and regulatory incentives to support the development of industrial cities, parks and clusters, especially around existing ports and transport corridors.

Government also said there are also plans to revitalise export processing zones by reviewing local fiscal and regulatory incentives; rationalise tariffs and waivers on the equipment and machinery imports required for agro-industry; and establish special economic zones to provide dedicated infrastructure to support hub productivity.

Still over the weekend, government said there is a plan to promote local content by sourcing raw materials and spare parts locally, leveraging public procurement of locally manufactured goods and expand the capabilities of the Bank of Industry to enable it to support manufacturing firms through low cost lending.

In general, respondents say they are tired of hearing government is going to…; ‘we will…’ ‘Very soon, this and that will happen and at the end nothing is seen.


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