The business community has called on the federal government to ensure the implementation of the proposed merger of the Nigerian Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS), and Nigeria Customs Services (NCS) into the Nigerian Revenue Services (NRS).
The said, the proposed merger, if effected, should not be allowed to impede the ease of doing business.
In an open letter to President Bola Tinubu, the president of Lagos Chamber of Commerce and Industry (LCCI), Dr. Michael Olawale-Cole said, the chamber supports the government’s desire to curb the rising cost of governance, its readiness to declare a state of emergency on revenue generation, and its resolve to tackle them headlong.
He stated that, the government should ensure that implementing the proposed merger does not impede the ease of doing business, saying, it would also be necessary for the government to ensure that the fallout of the proposed merger, such as staff rationalisation, realignment of operating structure, accountability, and transparency, are adequately dealt with.
Olawale-Cole commended the government on some of its recent measures to stop wasteful spending, urging the administration to halt the revenue leakage of more than $5 billion paid as freight to foreign ship owners.
He added that the chamber’s perspectives are in tandem with the government’s need to check the over-bloated and inefficient workforce of the Ministries, Departments, and Agencies(MDAs).
“Regarding the merger, we are willing to nudge the government to embrace critical stakeholders’ engagement and consultation, which we hope will provide further insights into charter-specific responsibilities and possibilities,” he said.
On the Executive Orders, LCCI president noted that, this demonstrates the listening ear tendency of the President, highlighting the administration’s readiness to strengthen due process, willingness to follow established path, and readiness to uphold collective agreements while at the same time, taking into serious consideration their economic growth impacts in general and the organised private sector in particular.
He added that, the recent appointment of Taiwo Oyedele as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms established to remove barriers impeding business growth in Nigeria is decisive affirmative action.
“It is clear by this pronouncement that the President recognises the importance of a sound fiscal policy environment and an effective taxation system for the functioning of the Government and the economy,” he said.
He emphasised that it would be important for the committee to focus on expanding the tax net to avoid overburdening existing taxpayers, adding that, other issues of revenue leakages, such as oil theft, should also be properly addressed.
“These would ensure that the government can earn more revenue and that there will be less dependence on internal and external borrowings to fund the budget. These efforts will improve Nigeria’s revenue profile and create a more conducive and internationally competitive business environment,” he stated.
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