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Stakeholders advocate fiscal incentives for exporters

Stakeholders at the Nigeria Employee Summit 2023 have harped on the need for government to provide budgetary incentives to exporters in the country to enable them compete internationally.

According to them, the cost of doing business in Nigeria is very high when compared to countries such as Kenya and South Africa, saying incentives provided will enable exporters to produce and sell favourably in the global market.

The Acting Chairman of the Manufacturing Association of Nigeria Exporters Group, Odiri Erewa-Meggisson, while speaking at the sidelines of the event said: “It is important that the incentives given to exporters go into the budget for the year, it should not come in the last minute when government said there are no funds for such. So, how does government put a budget in place such that when you qualify for the incentives there will be a budget in place that can help you sell your products?

“The cost of doing business in Nigeria is tough when compared to other part of the world. So, there is a need for incentives to enable exporters to compete more favourably with other countries. Exporters must get access to foreign exchange to enable them but their raw materials and machinery.”

Meggison, who is also Director of External Affairs, British American Tobacco West and Central Africa, stressed the need to harmonise the regulatory agencies to reduce bottlenecks exporters face, adding that there is a need to support exporters to reduce the rigor exporters go through in getting their goods exported.

Source: The Guardian