The Paint Manufacturers Association of Nigeria (PMA), a sub-sector of the Manufacturers Association of Nigeria (MAN) have described as scandalous the multiple taxes demanded by some tiers of government even as it regretted that this development has been a disincentive to business.
Chairman of the association, Ambolu S. Babatunde made this revelation at a press conference ahead of the association’s summit tagged, ‘Maximising the Opportunities of the African Continental Free Trade Area (AFCFTA) in COVID-19 era.”
Babatunde, who noted that the 2022 PMA Coating Show, the seventh in the series of the association’s biannual Raw Materials/Equipment and Paints fair, scheduled to hold from October 24 to 25, further emphasised that operating business climate was less encouraging, as such there is need for government intervention.
Echoing similar sentiments, the Managing Director, Voda Paint Nigeria and member of the MAN, Rotimi Aluka, also bemoaned the cost of doing business in the country, urging the government to support manufacturers.
“The harsh business environment is a threat to businesses in Nigeria in terms of AfCFTA. It will make our products uncompetitive. Further taxes are not helping the business community and it continues to make Nigerian products uncompetitive.
Multiple taxes are killing businesses. It’s easier to do business in other West African countries, than Nigeria,” he said, adding that “The cost of doing business which has to do with supervisory, registration, regulation, and multiple agencies is so high and needs to be addressed. Government has to support businesses, so that the country does not become a dumping ground; which will increase unemployment and affect the economy negatively.”