Asso President lists reasons for high cost of doing business in Nigeria

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Mr Ken Ukaoha, President, National Association of Nigerian Traders, has listed multiple taxation, as one of the challenges hindering the ease of doing business in Nigeria which leads to high cost of goods in the country.

Ukaoha told journalists on Sunday in Abuja, that traders encounter several barriers on the highway in moving their goods from the factories and ware houses to the market.

“Whenever we are moving our goods from the factories or ware houses, we pay lot of fines before getting to the market and the cost will be added to the price of the goods.

“We encounter lot of corrupt practices and bribery on the road; even in the market, different people collect illegal fees and this has adverse effects on the cost of doing business,’’ he said.

Ukaoha said that some individuals illegally form revenue agencies and collect taxes from individuals and small businessmen.

The president listed another challenge hindering the ease of doing business in Nigeria to the deplorable state of the roads.

taxation symbol

He said most times when goods are being moved from one place to another, the vehicles carrying the goods fall on the way and in the process, goods are destroyed.

He said that the association was making efforts build good relationship with officials of Road Transport Union and Road Transport Owners Associations to address some of the challenges faced on the highway. Ukaoha listed another challenge faced by the association to ignorance on the part of some traders.

He said that since most of the traders were not educated, the association had to go the extra mile to ensure that they abide by the policies of different government agencies that handle substandard products.

He disclosed that the association would convene national stakeholders meeting in March 6 where relevant agencies would be invited to discuss the need to facilitate free trade across the borders.

“The meeting will deliberate on how the country can address the current recession as traders play important role in the economy of the country.

“The meeting is coming at the right time that the government is looking at how it can increase the revenue base,’’ Ukaoha added.

He commended the Federal Government for constituting committee to address the high cost of the goods in the country.

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