The Lagos Chamber of Commerce and Industry (LCCI) has urged the National Assembly to halt the progression of the Nigeria Postal Commission Bill currently before it.
Director-general of LCCI, Mr Muda Yusuf, in a statement in Lagos on Sunday, said that the bill, if passed, might jeopardise about N300 billion investments in courier services business.
The passage of the Bill in its current form will put over 100,000 jobs in the courier sector at risk and will as well put over N300 billion investments in courier services business in jeopardy. “This would further worsen the risk rating of Nigeria and the country is already grappling with enormous perception problems by investors,” he said. Yusuf said the Bill was a negation of the Ease of Doing Business agenda and the fundamental principles of the Economic Recovery and Growth Plan (ERGP) of the Federal Government. “Regrettably, the Bill has been passed by the Senate, awaiting concurrence by the House of Representatives. We appeal that the progression of the bill be halted and the hurtful provisions expunged,” he said. According to him, the chamber is worried about the provision of imposition of an annual levy of 2.5 per cent on the turnover of courier companies to be paid to the proposed Postal Services Commission.