Faced with difficult economic circumstances, the organized private sector have expressed concern about high taxation, which it expects could depress the economy this year.
In a statement issued on Sunday, Dr. Al-Mujtaba Abubakar, President of the Abuja Chamber of Commerce and Industry, advised Nigerians to view the problems of 2021 as a motivator for united efforts to continue expanding their businesses despite the harsh budgetary environment.
While acknowledging that the COVID-19 pandemic has pushed businesses around the world over the technology tipping point, given rise to new industry challenges, and has forever transformed businesses, Dr. Abubakar urged operators of small and medium scale businesses not to relent and continue to advocate for an improved business climate in Nigeria.
The Chamber also drew the government’s attention to the issue of high taxation, which has the unintended consequence of killing numerous firms and deepening the economic crisis.
TVC News
