Postal Commission Bill’ll send wrong signals to prospective investors—LCCI
The leadership of the Lagos Chamber of Commerce and Industry (LCCI) has identified negative contents in the Nigeria Postal Commission Bill currently before the National Assembly, saying if passed and assented as it is now, thousands of jobs would be lost and over N300bn investments in courier services may shrink.
In statement signed by the Director General of LCCI, Mr. Muda Yusuf, the group decried that many provisions of the bill will frustrate rising private sector investments in the courier business.
Besides, the law will further worsen the risk rating of Nigeria which had been struggling to change its narrative in issues of perception and ease of doing business by investors.
LCCI said “It is a negation of the ease of doing business agenda of the Federal Government and not in consonance with the fundamental principles of the Economic Recovery and Growth Plan.”
While regretting the fact that the bill had been passed and was awaiting concurrence by the House of Representatives, LCCI appealed that the progression of the bill be halted and the hurtful provisions expunged.
“The LCCI is worried, in particular, about the following provisions in the bill; imposition of an annual levy of 2.5 per cent of the turnover of courier companies to be paid to the proposed Postal Services Commission; powers conferred on the proposed PSC to fix rates for courier services; monopoly privilege conferred on the Nigerian Postal Service for delivery of items weighing 1kg and below.
“All the provisions are not consistent with the commitment of the National Assembly to private sector development which was affirmed by the Senate President, Dr Bukola Saraki, at the inauguration of the National Assembly Business Environment Roundtable in March 2016.
LCCI had been a strong watchdog for critical national business policy and has remained vocal in industrial laws and regulations as they affect the economy over the years.
