Business
ANLCA Condemns Nigeria’s Auto Policy
The Association of Nigerian Licensed Customs Agents (ANLCA) has condemned Nigeria’s automotive policy, saying it will not enhance the growth of the sector.
Acting National President of ANLCA, Kayode Farinto, who made this known in his goodwill message to mark this year’s Eid el Kabir celebration, also said the policy had continued to enrich a few Nigerians to the detriment of the nation’s economy.
Noting that with the introduction of the policy, Nigeria could not manufacture a single part of a car, he called on the need for the review of the age limit on imported used vehicles from 12 years to at least 15 years.
According to the statement, “The entire auto policy is a scam that has continued to enrich few Nigerians at the detriment of our economy.
“With the introduction in the last 10 years or more, we are unable to produce ordinary radiator.
“Meanwhile, few are smiling home with our money under the guise of being local assemblers and manufacturers. It is high time we revised this policy.
“We, as trade Facilitators, will continue to do our best to ensure that more revenue is generated into the federation account, as part of our nation building.
“However, we are using the opportunity to appeal to the Federal Government to revisit many issues that can touch the lives of many Nigerian grassroots. The age limit on imported vehicles needs to be reviewed to at leas 15yrs from the current 12 years”.
The automotive policy, which was introduced in 2014, seeks to encourage local manufacture of vehicles, while phasing out the importation of used vehicles.
The ANLCA boss advised the Federal Government to institute a consistent policy in the maritime sector moving forward.
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Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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