• Tuesday, March 05, 2024
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FG urged to provide incentives for business investments, job creation

FG urged to provide incentives for business investments, job creation

Stakeholders in the business sector have called on the federal government to provide incentives that will facilitate business investments, which would in turn create employment in the country.

The stakeholders stated this at the 2023 Nigeria’s Most Respected Chief Executive Officers award held in Abuja, noting that such motivations should cover fiscal measures on taxation, effective promotion of local industries with import tariff and export promotion of made- in- Nigerian products.

Speaking at the award ceremony, which was organised by NG Buzz Executive, Mainasara Ibrahim Umar stressed the need for the federal government to also increase its efforts in providing an enabling environment for growth and development of industries, adding that no business can grow in a country with high levels of insecurity.

Driving his point home he said: “This is the time for us as a nation to start thinking of industrialisation. A country that is indebted cannot give to the society and the only way through which we can get out of this indebtedness is to start producing. It is not good for us to remain a consumer nation”.

On the state of the nation, Umar said that Nigeria had never been this separated, adding “we need national unity now more than ever. It is time for Nigeria to be governed with the spirit of brotherhood. The government should encourage inter-tribal marriages to tighten the relationship among us.”

Speaking earlier on the award, Paddy Njoku said it aimed to recognize and appreciate Nigeria CEOs who have recorded remarkable achievements in the country.

While stating that the selection of the awardees was made based on professionalism, he urged those that weren’t honored to put in more effort, so that they can be recognised in future.

Some of the awardees commended the organizers of the event for recognising their little contributions to national building but also lamented that the poor infrastructural state of the nation is affecting their businesses.

On her part, Comfort Onyema, CEO Comfort World cakes, said, “Lack of power is negatively affecting our level of productivity, if the government can improve on electricity supply, we will do better. With what is on ground now, generator is not even an option considering the cost of petrol as well as the high cost of the generator in the market.”

Abebe Abraham, managing director Soyaplus, who also spoke at the event, appealed for grants and loans with favourable returns, adding that lack of operational materials is affecting the spread.

“We really need grants, where we are working from now is over stretched to serve the whole country, so we could do with grants and maybe loans too but with good return rates which will not burden our country too much. We need funds,” he said.

Patrick Este, director, management accountant of Brain and Body, also appealed for grants to assist business owners.

On the other hand, he described the award as a step in the right direction, adding that it would go a long way to encourage Nigerian entrepreneurs to work harder so as to contribute their quota in the nation’s development.