The International Chamber of Commerce Nigeria has called on the Federal Government to urgently address the bottlenecks at the nation’s borders and seaports to enhance trade and investment in the economy.
President of ICCN, Mr Babatunde Savage made the known in Lagos at the chamber’s Annual Dinner and Dance with the theme Trade And Investment: A Must For Peace and Prosperity.
According Mr Savage, the Nigerian government needs to forge strategic collaboration and partnership with governments of other African countries to tackle hindrances to business growth.
He adds that resolving bottlenecks that impeded trade will not only promote cross border trade and reduce operational cost of businesses, but will increase job creation, boost the country’s foreign exchange earnings and spur economic growth.
The Federal Government under the administration of President Muhammadu Buhari has made the removal of bottlenecks to Businesses, establishment of Businesses and the removal of the restrictive Visa Policy formerly in operation a major plank of its programmes in the last 7 years.
The Ease of Doing Business committee which is under the leadership of Vice President Yemi Osinbajo has been hard at work and consists of the Ministers of Finance and Economic Planning, Minister of Trade and Investment, Minister of Works and Housing, Mines Development and Agencies Such as the Nigerian Immigration Service and the Nigerian Customs Service.
The call by the International Chamber of Commerce in Nigeria has revealed that though the move to remove Bottlenecks to the Ease of Doing Business has been on throughout the 7 years and more of the Buhari administration it is still not enough for the Business Community and more still needs to be done.
With the Muhammadu Buhari/Osinbajo administration gradually winding down and a new President to emerge by the first quarter of 2023, the next steps may be left to a new administration to take to continue the move towards enhancing the Ease of Doing Business in Nigeria.