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NECA calls on FG to promote dialogue to ease doing businesses in Nigeria

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The Nigeria Employers’ Consultative Association (NECA) has called on the Federal Government to promote dialogue and engagement to resolve issues amicably within the provisions of the law when dealing with businesses.

Its Director-General, Mr Timothy Olawale, made the call on Tuesday in Lagos following the recent sealing of the premises of Nestlé by officials of the National Lottery Regulatory Commission (NLRC).

The Nigeria News Agency reports that the NLRC late agreed to re-open the corporate headquarters of Nestle following an agreement reached with the food and beverage firm to pay a disputed N65 million lottery commission stemming from lottery promos the company held between 2012 and 2014.

The government had shut the offices of the multinational food and beverages firm following hours of failed negotiations with its management team led by the Head of its Human Resource, Mr Adesola Akinyosoye.

The NLRC said that the company’s office was sealed for violating the National Lottery Act, 2005 and National Lottery Regulations, 2007.

Olawale, in a statement, said that such approach was counter-productive to the efforts to improve the ease of doing business in Nigeria.

He said also that the action could roll back progress made towards attracting further investments into the country.

“NLRC’s recent actions in sealing the premises of a company and forcing them to sign an undertaking to make payment in a matter pending in court raises concerns about the ease of doing business in Nigeria.

“The rule of law requires that parties in a court case should respect the rule of law and maintain the status quo until the final determination by the court,” he said.

The NECA boss urged the Federal Government to impress it on the NLRC the imperative of respecting the rule of law. (NAN)


EEI/ECN/TA


Edited by Emmanuel Nwoye/Tajudeen Atitebi

Economy

MPR reduction: NECA commends CBN

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The Nigeria Employers’ Consultative Association (NECA) has commended the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) for reducing the Monetary Policy Rate (MPR) from 13.5 per cent to 12.5 per cent.

Its Director-General, Mr Timothy Olawale, gave the commendation on Friday in Lagos.

Olawale said that the development signalled a pro-growth response.

The News Agency of Nigeria reports that MPC had on May 28 reduced its benchmark interest rate, the MPR, to 12.5 per cent from 13.5 per cent.

The CBN Governor, Mr Godwin Emefiele, said the decision of the MPC was necessitated by the need to stimulate growth and recovery of the economy in the face of the impact of COVID-19 challenges.

The apex bank governor said the decision was made in a bid to stimulate the economy ahead the projected economic recession arising from the impact of coronavirus pandemic.

Olawale said that such a move could lead to reduction in the cost of credit, increase investment and impact positively on output growth to address the current global challenges.

“With the negative effects of COVID-19, the twin challenges of the global oil prices and over-exposure of our economy to external shocks, this decision is a welcomed development by the monetary authority to protect the economy.

“We applaud the current decision of the MPC, which aligned perfectly with the association’s earlier recommendation,” he said in a statement.

The director-general, however, called for synergy between the fiscal and monetary policies in order to move the economy forward.

He called for more robust and coordinated stimulus packages for the sectors that were worst hit by the COVID-19 pandemic.

“Also, opening up the non-oil economy for more productivity, to reduce the shock expected from falling global oil prices, will be a welcome development in pulling the economy from nose-diving into recession.” Olawale said.

Edited By: Chidinma Agu/Adeleye Ajayi (NAN)

 

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Science & Technology

UNECA encourages Africa to invest on digital transformation

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The UN Economic Commission for Africa (UNECA) has encouraged African countries to make right investments toward developing a digitally transformed economy.

Mr Jean-Paul Adam, Director, Technology, Climate Change and Natural Resources at UNECA, made the call on Tuesday during a webinar monitored in Abuja.

The webinar was organised by Africa Information and Communication Technology Alliance (AfICTA) in collaboration with UNECA with  the theme “Unlocking Africa’s Digital Potential Amid COVID-19”.

Adam said that the emergence of COVID-19 pandemic had caused a disruption in activities, hence the need for a paradigm shift.

“Africa needs to address issues that have limited their digital growth. There are issues of gender imbalance, speed of bandwidth, poor internet access.

“When we get some of these issues right, we can connect a huge number of our population and we need to sustain the momentum of Fintech in growing our economies.

“Africa need to leverage on emerging technologies for digital transformation.

“We have the potential to grow our economies digitally, but it requires investments in the right sectors,”Adam said.

He lauded Ghana, Nigeria, Kenya, Uganda and Rwanda for using their locally developed digital technology to address the pandemic.

Mr Hossan Elgamal, Chairman, AfICTA, earlier in his welcome address, said the pandemic had created opportunities for ICT businesses to flourish.

Elgamal added that this was a time to invest in ICT infrastructures, address challenges in the tech ecosystem and the governance of digital transformation.

The chairman also said that synergy between the academia, AfICTA and UNECA would help harness ideas that could develop the sector in the continent.

Mr Lacina Kobe, Chief Executive Officer, Smart Africa, said that the African continent was advancing in digital growth, but needed to leverage more on its youthful population for development.

Kobe also added that countries in the continent needed to ensure the implementation of their respective local digital laws.

Mr Inye Kemabonta, CEO, Tech Law Development Services, while discussing on enhancing access and affordability of broadband in Africa, recommended developmental regulation.

According to Kemabonta, some African countries like Nigeria already have increased broadband, but the demand is low and causing the high cost of data.

“Most people do not use internet when they are not in need of it, but having a development regulation will compel demand and that is when people are convinced on why data is needed.

“If access to internet is made easy, demand will increase and the price of data will drop,” he said.

Mr Seun Olugbile, CEO Data Analytics Privacy Tech Ltd, suggested for the mobilisation of ICT stakeholders to use data to negotiate better business opportunities for Africa.

Olugbile also said there was need to develop a policy framework for digital Africa which could enable the use of data for regulation, asides for enforcement.

Mr Kojo Boakye, Director, Public Policy for Africa at Facebook, said the organisation was working on providing capacity for Africa toward sustainable digital growth for up to 25 years.

Boakye added that they were working with mobile operators globally to boost internet access.

He,however, called for appropriate government regulations to ease it of the responsibilities of digital transformation and enable private sector participation.

Mrs Nnenna Nwakanma, Chief Web Advocate, World Wide Web Foundation, said African countries should prioritise digital transformation policies and ensure implementation to attract investors.

Mr Jimson Olufuye, former AfICTA Chairman, called for Cyber security awareness to boost confidence of internet users, grassroots internet connectivity and reduction on the Right of Way.

Edited By: Edith Bolokor/Wale Ojetimi (NAN)

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Economy

Oil prices: NECA urges aggressive policies to sustain economic recovery

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The Nigeria Employers’ Consultative Association (NECA), has urged fiscal and monetary authorities to develop more aggressive and decisive policies to sustain economic recovery in the wake of further reduction in oil prices.

The Director-General of NECA, Mr Timothy Olawale, who made the call on Tuesday in Lagos said, “in our analysis of the country’s economy, we observed a strong correlation between global oil prices (brent) and the country’s Gross Domestic Product (GDP) between Q1 2014 and Q1 2020.

“This indicates that the direction of growth is pretty much determined by the direction of oil prices, it can be adduced that a dollar increase in global oil prices corresponds with average 0.1 per cent rise in growth.

“A similar trend was witnessed in Q2 2017, when the country exited from recession, it was not buoyed by government policies, but rather rebound in oil prices.

“This calls for a more drastic management of the country’s economy from the global shock of oil prices.”

The director-general noted that the slowdown in the GDP growth reflected the earliest effects of the disruptions on non-oil economy, coupled with an escalating war of words between the U.S. and China which resulted to low demand in global oil.

He said that the lockdown of the country’s economy commenced in April due to the pandemic, and therefore, the real impact of COVID-19 on the economy would be felt in the Q2 GDP result.

“We anticipate contraction in the second quarter, as the economy witnessed a six week’s lockdown on the commercial nerves of the country, and similar trend witnessed in global economy.”

However, China was an exception with consumption of fuel due to opening of industrial hubs and transportation could portend mild positive growth pattern due to demand for crude oil,” he said.

Olawale said that a more coordinated stimulus packages targeted at the worst-hit sectors of the economy would sustain the economy from experiencing contraction of 8.9 per cent as predicted.

“Creating enabling environment for the non-oil economy to be the major contributor to the revenue profile will salvage the economy from external shocks.”

Edited By: Remi Koleoso/Ese E. (NAN)  Ekama

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Foreign

Roundup: UNECA plans to deepen partnership with China on Africa’s development

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The United Nations Economic Commission for Africa (UNECA) on Saturday expressed its keen interest to deepen partnership with China with particular emphasis on building Africa’s socio-economic condition back to normal in the postCOVID-19 pandemic period.

The remark was made by Antonio Pedro, Director of the United Nations Economic Commission for Africa (UNECA) Sub-regional Office for Central Africa, as he emphasized the need to strengthen global partnership and collaboration in building back Africa after COVID-19 pandemic.

“The day after COVID-19 should not be the same as before COVID-19,” Pedro said in exclusively with Xinhua on Saturday, as he recalled a similar recent remark by the United Nations Secretary-General Antonio Guterres on the need to build climate-friendly economies in the postCOVID-19 pandemic era.

“We are looking for a world that’s greener with green economies and green jobs where impacts of climate change will be addressed, where our energy intensity will be reduced, and where we will have what we call the deep de-carbonization,” the ECA director said.

Members of a Chinese medical team pose for a group photo after donating medical supplies to Mvurwi Hospital in Mvurwi, Zimbabwe, May 19, 2020. (Xinhua/Zhang Yuliang)

Members of a Chinese medical team pose for a group photo after donating medical supplies to Mvurwi Hospital in Mvurwi, Zimbabwe, May 19, 2020. (Xinhua/Zhang Yuliang)

“Here, China is leading in many of these areas such as in electric cars, which will reduce carbon emissions,” Pedro told Xinhua on Saturday, as he emphasized that “all of these efforts are part of the package on building back better in terms of energy transitions as well as electrification of the transport systems.”

“We are looking for collaboration and partnership with China on that area as well. We will facilitate Africa’s participation in global value chains that we add value to our product so that we can generate more employment; because one of the unfortunate faces of COVID-19 is that the race of unemployment in Africa is already increasing,” said Pedro.

“It’s important that in building back better, we create more jobs on the continent and this, among other things, requires industrialization,” he said, adding that “we are looking forward to more of this collaboration and we appreciate the efforts that has been done so far.”

Commending the Chinese engagement and support to African governments and Pan-African institutions, such as the African Union, in fighting the COVID-19 pandemic, the ECA director also called on countries across the globe to emulate China‘s positive engagement in strengthening the global solidarity against the COVID-19 pandemic.

Noting the need to strengthen the global solidarity in order to effectively contain the spread of the COVID-19 pandemic in building back better after the coronavirus pandemic, Pedro also singled out China as a major player in propelling the much-needed global partnership and collaboration towards combating the virus.

“We see the Chinese engagement and the support that it is providing to African governments and to the African Union in terms of access to medical supplies, masks and other things as part of the global solidarity against the COVID-19 pandemic,” Pedro told Xinhua on Saturday.

Chinese Ambassador to Ghana Wang Shiting (C) donates food items to Ghana’s local communities in Accra, capital of Ghana, on April 17, 2020. (Xinhua/Xu Zheng)

Chinese Ambassador to Ghana Wang Shiting (C) donates food items to Ghana’s local communities in Accra, capital of Ghana, on April 17, 2020. (Xinhua/Xu Zheng)

According to Pedro, among the areas in which the UNEAC presently collaborating with China is the facilitation of access to business opportunities for Africa companies in China and beyond, which includes the ongoing partnership with the Chinese Alibaba Group’s Electronic World Trade Platform (eWTP) initiative that envisaged the promotion of African products in the global market.

The ECA regional director’s remarks in deepening partnership with China on building Africa’s socio-economic condition back to normal after the COVID-19 pandemic came as the UNECA recently disclosed that a one-month full lockdown across Africa would cost the continent about 2.5 percent of its annual GDP, equivalent to about 65.7 billion U.S. dollars per month.

Earlier this month, a UNECA report entitled “COVID-19: Lockdown Exit Strategies for Africa,” which indicated that at least 42 African countries applied partial or full lockdowns in their quest to curtail the pandemic, mainly proposed to African nations various COVID-19 exit strategies following the imposition of lockdowns that helped suppress the virus but with devastating economic consequences.

The report, among other things, proposed seven exit strategies that provide sustainable, albeit reduced, economic activity. The report also sets out some of the exit strategies being proposed and tried around the world and outlines the risks involved for African countries.

The Africa Centers for Disease Control and Prevention (Africa CDC) disclosed that the number of confirmed COVID-19 positive cases across Africa surpassed 103,933 as of Saturday morning as the death toll surpassed 3,183. Some 41,473 people had also recovered from the infectious virus so far.

(XINHUA)

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Foreign

Roundup: UNECA to deepen ties with China in post COVID-19 pandemic period

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The United Nations Economic Commission for Africa (UNECA) on Saturday expressed its keen interest to deepen partnership with China with particular emphasis on building Africa’s socio-economic condition back to normal in the postCOVID-19 pandemic period.

The remark was made by Antonio Pedro, Director of the United Nations Economic Commission for Africa (UNECA) Sub-regional Office for Central Africa, as he emphasized the need to strengthen global partnership and collaboration in building back Africa after COVID-19 pandemic.

“The day after COVID-19 should not be the same as before COVID-19,” Pedro said in exclusively with Xinhua on Saturday, as he recalled a similar recent remark by the United Nations Secretary-General Antonio Guterres on the need to build climate-friendly economies in the postCOVID-19 pandemic era.

“We are looking for a world that’s greener with green economies and green jobs where impacts of climate change will be addressed, where our energy intensity will be reduced, and where we will have what we call the deep de-carbonization,” the ECA director said.

“Here, China is leading in many of these areas such as in electric cars, which will reduce carbon emissions,” Pedro told Xinhua on Saturday, as he emphasized that “all of these efforts are part of the package on building back better in terms of energy transitions as well as electrification of the transport systems.”

“We are looking for collaboration and partnership with China on that area as well. We will facilitate Africa’s participation in global value chains that we add value to our product so that we can generate more employment; because one of the unfortunate faces of COVID-19 is that the race of unemployment in Africa is already increasing,” said Pedro.

“It’s important that in building back better, we create more jobs on the continent and this, among other things, requires industrialization,” he said, adding that “we are looking forward to more of this collaboration and we appreciate the efforts that has been done so far.”

Commending the Chinese engagement and support to African governments and Pan-African institutions, such as the African Union, in fighting the COVID-19 pandemic, the ECA director also called on countries across the globe to emulate China‘s positive engagement in strengthening the global solidarity against the COVID-19 pandemic.

Noting the need to strengthen the global solidarity in order to effectively contend the spread of the COVID-19 pandemic in building back better after the coronavirus pandemic, Pedro also singled out China as a major player in propelling the much-needed global partnership and collaboration towards combating the virus.

“We see the Chinese engagement and the support that it is providing to African governments and to the African Union in terms of access to medical supplies, masks and other things as part of the global solidarity against the COVID-19 pandemic,” Pedro told Xinhua on Saturday.

According to Pedro, among the areas in which the UNEAC presently collaborating with China is the facilitation of access to business opportunities for Africa companies in China and beyond, which includes the ongoing partnership with the Chinese Alibaba Group’s Electronic World Trade Platform (eWTP) initiative that envisaged the promotion of African products in the global market.

The ECA regional director’s remarks in deepening partnership with China on building Africa’s socio-economic condition back to normal after the COVID-19 pandemic also came as the UNECA recently disclosed that a one-month full lockdown across Africa would cost the continent about 2.5 percent of its annual GDP, equivalent to about 65.7 billion U.S. dollars per month.

Earlier this month, a UNECA report entitled “COVID-19: Lockdown Exit Strategies for Africa,” which indicated that at least 42 African countries applied partial or full lockdowns in their quest to curtail the pandemic, mainly proposed to African nations various COVID-19 exit strategies following the imposition of lockdowns that helped suppress the virus but with devastating economic consequences.

The report, among other things, proposed seven exit strategies that provide sustainable, albeit reduced, economic activity. The report also sets out some of the exit strategies being proposed and tried around the world and outlines the risks involved for African countries.

On Saturday, the Africa Centers for Disease Control and Prevention (Africa CDC) disclosed that the number of confirmed COVID-19 positive cases across Africa surpassed 103,933 as of Saturday morning as the death toll surpassed 3,183. Some 41,473 people have also recovered from the infectious virus so far.

(XINHUA)

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Economy

Customs operations hinders ease of doing business, says NECA

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The Nigeria Employers’ Consultative Association (NECA) says incessant obstruction caused by the Nigeria Customs Service are hindering the ease of doing business by the manufacturing companies.

Its Director-General, Mr Timothy Olawale, said in a statement on Monday that such act was jeopardising the Federal Government’s efforts at promoting ease of doing business in Nigeria.

Olawale said: “This is the time when all hands must be on deck to promote local enterprise competitiveness and prevent jobs losses.

“It is a known fact that the world economy is on the precipice with nations doing all that is necessary to keep their productive sector going.

“Recent incessant issues with the Nigeria Customs Service have become worrisome as it has the potential to push businesses off the cliff.

“This will fast-track the demise of more enterprises and exacerbating the current unemployment situation in Nigeria,” he said.

The director-general urged the Federal Government to call men of the custom services to order.

He said that Customs operatives were obstructing legitimate businesses through inconsistent and arbitrary tariff classification, excessive and unfriendly duty rate on key raw materials without local substitute.

Olawale said that other blockages include improper valuation of consignments and reckless interception of containers after legitimate clearance, among others.

He said: “While the Customs Service is desirous of meeting its revenue target, it should not be at the expense of legitimate businesses.

“With the Africa Continental Free Trade Area coming into effect Jan. 1, 2021, these recurring issues will only destroy Nigerian businesses.

“It will also make importation of manufactured goods more attractive with grave consequences for Nigeria and Nigerians as a whole.”

————-

Edited By: Olawunmi Ashafa/Olagoke Olatoye (NAN)

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Economy

COVID-19: Africa will lose $65bn to full lockdown – UNECA

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Mr Stephen Karingi, Director, Regional Trade and Integration, United Nations Economic Commission for Africa (UNECA), says African economy will lose 65 billion dollars if there is a full lockdown of the continent due to COVID-19.
Karingi said this during the World Health Organisation (WHO) and World Economic Forum (WEF) virtual joint press briefing on Thursday.
The director said that the African economy would contrast as much as three per cent in 2020.
According to him, an analysis done by UNECA showed that every month the African economy would lose 2.5 per cent of its GDP if a total lockdown was declared.
“This is about 6.5 billion dollars every month based on the intensity and strictness of the lockdown. If we have a full lockdown of the whole continent, we would lose $65 billion,” he said.
According to him, reports of the first quarter released by African governments, revealed a reduction in exports and lower revenue generation by governments, because of the lower activities of businesses and the economy.
He added that the speed of Africa’s recovery from the pandemic would depend on its actions to save lives and businesses, adding that without lives, there would be no businesses and income.
Karingi maintained that measures required by governments should be a smart exit from the lockdown, and to ensure that numbers of COVID-19 cases decreased to prevent an economic shutdown.
Also speaking, Dr Amit Thakker, Executive Chairman, Africa Health Business and President of the Africa Healthcare Federation, said that there were three phases of Africa post COVID-19 recovery.
Thakker explained that the phases would run from 2021 to 2023, and phase one, repair, would involved containment, vaccines, social distancing measures and hand washing.
According to him, phase two which would be in 2022, would determine if Africa’s growth would be strong or decline, while phase three would be partnership and leadership to achieve progressive growth.
Commenting, Dr Matshidiso Moeti, World Health Organization (WHO), Regional Director for Africa, said that easing lockdown in Africa should be gradual, with the most essential parts of the economy being opened up first.
According to Moeti, containment measures should be in place to ensure rates of COVID-19 infection reduces, while upscaling testing, contact tracing and treatment of patients.
She added that social distancing should be upheld, noting that to stop the spread of the virus, the key public health measures needed to be in place in every community, even where cases had not been reported.
According to her, looking at the evolution of the COVID-19 pandemic, especially now that most countries are at the community transmission stage, WHO estimates that the virus will peak in four to six weeks, if nothing is done.
She added that factors that would drive the peak would be population density, underlying conditions and age.
Speaking of the COVID-19 herbal treatment purportedly produced in Madagascar, Moeti advised the government of Madagascar to take the product through a clinical trial.
“We are prepared to collaborate with them,” she said.
Moeti cautioned and advised countries against adopting a product that had not been through clinical tests for safety and efficacy in the management of COVID-19 patients.
“It is incredibly important that countries use data-driven, evidence-based approaches in their response,” she said.
The director added that WHO was working with countries to leverage the assets they had in place, built in preparedness for Ebola, HIV, Tuberculosis and Polio programmes to scale-up coordination, mobilise people and repair supply chains globally and locally.
The News Agency of Nigeria reports that there are 51, 239 confirmed cases of COVID-19, and 2006 deaths recorded across the African continent.

Edited By: Bayo Sekoni/Ejike Obeta (NAN)

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Metro

Oronsanye report: NECA lauds FG on approval

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The Nigeria Employers’ Consultative Association (NECA) has commended the Federal Government for approving the implementation of the long overdue Oronsanye Report.

Its Director-General, Mr Timothy Olawale, who gave the commendation in a statement on Saturday in Lagos, said the report was submitted to President Goodluck Jonathan on April 16, 2012.

The News Agency of Nigeria recalls that the Steve Oronsanye Report recommended the abolishment and merging of 102 government agencies and parastatals.

Olawale said the implementation of the report was fundamental to the institutionalisation of operational efficiency and reduction of government expenditure in the long term.

“It is worrisome that with over two hundred and fifty Institutions, Parastatals and Agencies of Government, the average cost of governance in Nigeria remains among the highest globally, ” he said.

The director-general called on the government to ensure that all efforts must be made to see to a logical conclusion of the implementation of the Oronsanye report.

Olawale said that for the cost of governance to be reduced and ensure fiscal discipline, government must go beyond the implementation of the Oronsanye report.

He said that there was also need to deliberately reduce other leakages arising from over-bloated retinue of aids of political officers and expenditure profile with no direct national development impact.

“Also, government should fast-track the deregulation of the downstream oil sector and rechart the course for rapid diversification of the economy.

“Herein lays our path to national economic and social renaissance, ” he said.

Edited By: Chioma Ugboma/Wale Ojetimi (NAN)

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Economy

NECA worries over FIRS’ call for advance tax payment by coys

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The Nigeria Employers’ Consultative Association (NECA) has faulted the Federal Inland Revenue Service (FIRS)’s request asking companies to pay their taxes in advance.

Its Director-General, Mr Timothy Olawale, who expressed the concern in a statement on Friday in Lagos, said that it would impose additional pressure on businesses.

The News Agency of Nigeria reports that the FIRS recently issued a circular calling on corporate organisations to commence payment of their annual returns, earlier than their due dates, apart from their normal monthly obligations.

The circular was dated April 22, 2020, entitled: “Update on Palliative Measures to Cushion Effect of COVID-19 on Taxpayers,” .

The Federal tax collector said that this appeal “has become necessary in order to ease some of the cash flow gaps being experienced by governments at this critical time”.

Responding, Olawale described the pronouncement as ‘ill-timed’, saying it was against a situation when companies were virtually closed due to the lockdown occasioned by the spread of COVID-19 pandemic.

FIRS has not taken into consideration the holistic nature of industries operating within the global context, the constraints imposed by COVID-19, and its attendant collateral damages on businesses and economies.

“This is a time when governments globally are finding ways to support businesses to ease their burdens, and our country should not be an exception.

“It is noteworthy that corporate organisations know when to file their annual returns according to the relevant tax laws.

“They should only be reminded, and not be harassed by such circular, not even minding the current predicament that endangers livelihoods and businesses, wherein sectors were clamouring for further palliatives to support sustainability of businesses,” he said.

The NECA director-general also faulted the service’s assumption that some companies were experiencing a boom during this time of economic lockdown.

According to him, all the sectors of the economy have felt the effect of the COVID-19 lockdown and some companies are at the verge of closing shop.

“The FIRS is not well informed or aware of the practicality in the private sector, as there are zero operations for businesses, which has to obey the lockdown directives of the Federal Government.

“Businesses in Lagos State have experienced about five weeks lockdown as directed by both Federal and State Governments.

“There were zero operations in several sectors, such as the Iron, Metal and Steel, Hospitality, Aviation, Tourism, Transportation, among others.

“For example, supermarkets operated at 30 per cent capacity, which created problems for the supply chain of the organisation.

“Sales dropped by 70 per cent due to lack of supplies, few hours of working and controlled social distancing,” he said.

Olawale therefore, urged governments to emulate its counterpart in other countries, and put in place more palliative measures to cushion the effects of the pandemic on corporate Nigeria, rather than putting more pressure on them.

“The FIRS will do well to focus on supporting the real sector to be sustainable into the post Covid-19 era.

“This will prevent loss of jobs, which would in turn, contribute toward economic growth through payment of appropriate taxes,” he said.

Edited By: Fela Fashoro/Olagoke Olatoye (NAN)

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Contact US: editor @nnn.com.ng, nnnnews247 @gmail.com

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