Abuja Chamber of Commerce appoints new DG vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
James Emejo in Abuja
The President of the Abuja Chamber of Commerce and Industry (ACCI), Alhaji Al-Mujtaba Abubakar, has welcomed the declaration by the Minister of Federal Capital Territory Administration, Alhaji Muhammad Bello on plans to harmonise tax policy within the territory to ease the burden of multiple taxation on SMEs.
He observed that multiple taxation within the FCT and the larger national economy had imposed crippling consequences on businesses, leading to several failed businesses, rising inflation and lack of capacity to engage unemployed youth among other consequences.
In a statement, he said the, “path of lower taxation to speed up the growth of the economy is a tested tool that has helped many economies.”
By Ndubuisi Francis
The Abuja Chamber of Commerce and Industry (ACCI) has called on the federal government to urgently enhance the capacity to engage, push back and dismantle the operations of both internal and external extremists and criminal groups waging war against Nigerian communities.
The ACCI said this was imperative because of the nexus between insecurity and economic downturn, especially with respect to the agricultural sector.
In its reaction to President Muhammadu Buhari’s New Year message to the nation, the ACCI observed that insecurity, particularly in some parts of the northern region, constitutes a serious threat to the operations and activities of farmers and farming firms.
A
s the African Continental Free Trade Areas Agreement (AfCFTA) among the 54 participating countries commences today, January 1, 2021, the Central Bank of Nigeria (CBN) has insisted that it will sustain its foreign exchange (forex) restriction for 42 import items it had prohibited earlier.
The commencement of the pact is coming barely two weeks after the federal government reopened the land borders shut for over one year.
The AfCTA agreement allows participating countries to trade about 90 per cent of goods without any duty payment. However, each African country reserves the right to restrict importation of 10 per cent of goods that it has local capacity to produce.
Nigeria: Rice, Poultry, Others Remained Banned As Govt Reopens 4 Borders allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.