As the general elections draw nearer, the Manufacturers Association of Nigeria (MAN) has warned that the quest by regulatory agencies of government-ministries, departments and agencies (MDAs) to increase their internally generated revenues (IGRs) will put unexpected pressure on manufacturing activities this year.
President, MAN, Dr. Frank Udemba Jacobs, disclosed this in a chat with New Telegraph in Lagos.
He insisted that the move by the MDAs to shore up its IGRs is not good for Nigeria’s economy, especially the manufacturing sector.
He explained that its members were groaning over the way MDAs were harassing them in some key sectors of the economy in a bid to meet revenue targets set for them by the Federal Government.
He said that information reaching the association’s headquarters in Lagos showed that many of their members were facing challenges over unexpected hike in tariffs and taxes by regulatory agencies of the government as elections approach.
Jacobs warned that the continued rush to raise unregulated taxes or tariff for the sake of contributing monies to the Treasury Single Account (TSA$ for election purposes at the detriment of stabilising the economy was not in tandem with good governance.
He explained that some of its members were complaining of bottlenecks they are facing at the ports with officials of Nigeria Customs Service (NCS) during goods clearance.
According to him, the dispute with the NCS had to do with goods valuation computation.
Jacobs stressed that the association had already implored its members to abide with the Nigeria Customs’ honest declaration process, adding that here has, however, been challenges with valuations.
He added that this was causing dispute between officials of the Nigerian customs and manufacturers/importers of imported goods.
He opined that there should be a credible ground to resolve the dispute relating to the value of invoice on imports, adding that most of the prices were global prices and easily verifiable online.
“In many of the instances, the actions of the NCS have no bearing with these global prices. Prices vary across different regions of the world,”Jacobs said.
“Regrettably there is no dependable dispute resolution framework in place to ensure speedy resolution of such disputes.”
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