The Managing Director and Chief
Executive Officer (CEO) of Delta Special Economic Zone, Godwin Akpovie, said
financial insecurity and multiple-taxation are major challenges facing manufacturing
sector in the country.
Reacting to a development where
some manufacturing companies operating in Nigeria, Akpovie “the Africa’s most
populous country’’ are closing down or relocating their operations.
“When you bring in your money and
in just a short while it depreciates due to the value of our currency, it means
your money is not secured.
“Insecurity is not just about
guns and weapons but how secure the funds of investors that come into the
country are.
‘“No businessman wants to put his
money where he is unsure of the returns on investment.
“So, those in charge of our
monetary policy should urgently look towards this direction and proffer
solutions,’’ he said.
Akpovie said the challenge of
multiple taxation which occurred mostly by lack of coordination by the three
levels of government should be tackled as it was hindering growth of small
businesses.
According to the CEO, another
major bane of the manufacturing sector in the country is cyber insecurity and
the unwillingness of manufacturers to embrace technology.
“To secure your money and
investments, you must encourage technology, as an investor.
“By this, you must dedicate some
of your money for training and retraining; you must be willing to provide the
right skills for your members of staff,’’ he said.
Akpovie dispelled the notion by
many that, embracing technology will create unemployment.
According to him, the use of
technology would lead to the discovery of many other neglected areas that
needed human interference which would in turn create more jobs.
“Technology is the way to go and
should be encouraged as it will not only ease business but also create more
jobs.
“Some advanced countries have
already started using robots and AI to carry out most functions, and we in
Nigeria are very far from that level.
“So I encourage the various
stakeholders to look in that direction, invest in technology, invest in
training their employees, so they can retrain other workers,’’ he said.
The CEO urged the government to
create an enabling environment for small business owners to thrive while urging
Nigerians to patronise made-in-Nigeria products.
Leave Comments