ACCI expresses optimism on business environment | Guardian Nigeria News

ACCI expresses optimism on business environment | Headline News



Following the budget details, Abuja Chamber of Commerce and Industry (ACCI) President Emeka Obegole says 2024 will bring new business opportunities, especially for the organized private sector (OPS) in the Federal Capital Territory (FCT). said.

Speaking to journalists about what OPS could gain if the 2024 budget is fully implemented, Obegol expressed optimism. He said that the business environment in 2023 will be challenged by policies such as soaring business costs due to the abolition of fuel subsidies, foreign exchange fluctuations, multiple taxation, an epileptic power supply, security insecurity, and large domestic debts. I admitted that there was.

He said the 2024 budget details will give the government and other stakeholders a priority to develop business-friendly policies that address endemic challenges, promote ease of doing business and foster economic growth. He said he was presented with an opportunity.

The ACCI chief called on the FCT administration and all state governments to harmonize tax policies to reduce pressure on businesses and reduce corporate failures.

He also called on the government to pay greater attention to improving the ease of doing business. While warning that a stable supply of electricity is non-negotiable, he emphasized the importance of leveraging reliable corporate databases to strengthen access to finance.

He also emphasized the need to fill infrastructure gaps, especially in the transport sector, to reduce logistics costs.

“Regulatory oversight is essential to maintain standards and ensure compliance, but in the current situation multiple agencies are performing similar functions, resulting in bureaucratic bottlenecks and challenges for businesses. “Such redundancies not only stifle innovation, but also hinder the rapid growth of businesses, especially small and medium-sized enterprises, which are the backbone of the economy,” he said.

Source: guardian.ng

Leave a Reply

Your email address will not be published. Required fields are marked *