Harboursandport.com: Lagos - The Federal
Government has been charged to discontinue plans to borrow $7.8 billion and 100
million Euros but instead should concentrate on improving the nation’s export
volume as well as production capacity.
Giving the charge in
Lagos, the Association of Concerned Freight Forwarders and Transporters,
ACFF&T, noted that all the funds borrowed in the past has not made any
concrete benefit for Nigerians, noting that borrowing fresh funds will also not
be of any benefit to the citizenry.
Speaking with
Vanguard, Secretary of the association, Johnny Ubaka, said improving the nation’s
export volume as well as production capacity, if sustained would help increase
the country’s Gross Domestic Product, GDP.
On what alternative
source of fund should the government consider, Ubaka said that the government
income has improved greatly since it started double taxation, especially in the
maritime sector.
He said before now,
import duty was N4 million but it has been hike to N8 million. He further
stated that with the volume of import that comes through the nation’s seaports,
the revenue accruable would have also double.
He called on the
federal government’s economic team to work at rejigging its strategy to empower
more Nigerians to engage in production.
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