The federal government is taking steps to improve the business environment for manufacturers in Nigeria, according to the Minister of Industry, Trade and Investment, Doris Uzoka-Anite.
Speaking after the Federal Executive Council (FEC) meeting on Wednesday, Uzoka-Anite noted that the council discussed ways to reduce the cost of doing business and remove roadblocks hampering industrialists and manufacturers.
She said the priority of President Bola Tinubu administration is to promote and protect local industries, which requires creating a more conducive environment for businesses to thrive.
The minister mentioned some of the issues negatively affecting businesses as multiple taxation, multiple levies, customs duties, infrastructure decay, and power supply challenges.
To address these, the President had set up the Presidential Council on Industrial Revitalization and the Presidential Council on Fiscal Reform and Tax Policy Review in 2023.
Uzoka-Anite said FEC has now directed the councils to fast-track their reports and recommendations.
The minister explained that implementing the recommendations would help jumpstart the economy and achieve double-digit GDP growth in line with the President’s vision of a $1 trillion economy.
She added that this would also lead to more job creation, lower prices of goods and services, and an overall revival of the economy.
Dr Uzoka-Anite assured that her ministry would act promptly on the resolutions from the presidential councils so that Nigerians can begin enjoying the benefits of the Renewed Hope Agenda this 2024.
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