The President of Akwa Ibom Business Community, an umbrella body for the organised business operators in the state, Lordson Umani, has identified lack of government funding, multiple taxation, and inadequate utilities as some of the challenges crippling businesses in the state.
He listed other challenges in the sector to include lack of government patronage, promotion, and lack of government backing as collateral instruments.
Umani, who stated this while addressing a press conference in Uyo on Monday, called on the state government to put in place adequate policy measures to save the sector from an imminent collapse.
While appreciating the state government for the steps it has taken to promote industrial development of the state, Umani said the sector needs all the support of the government to perform its critical role as the bedrock of development.
According to him, intervention funds for deserving industrialists and SME operators appropriate machinery to check multiple taxations by local agents, patronising locally produced goods and services, and provision of critical utilities such as power would move the sector forward and ensure the rapid development of the state.
He said “Government should set up an intervention fund as a deliberate policy in form of grants and loans to assist deserving industries and.SMEs in the organised business sector.
“Government should also make a deliberate policy on patronising locally produced goods and services where applicable as this will give the producers opportunity and encouragement to stand out in a competitive market. Also, the promotion of locally produced goods in any government projects will facilitate growth and expansion as well as expose the producers to a larger market that leads to employment opportunities in the society.
“Efforts should be intensified at improving the delivery of critical utilities- power is a burden to the industrialists. Presently, the conditions are unbearable; insufficient/ very low power supply and cost of diesel and fuel are something we cannot mention. Applicable and appropriate laws should be put in place to check multiple taxation and levies by local agents.” He said.
The President who lamented that successive governments have continued to undermine the sector both in terms of policies and governance, said however that it’s no longer going to be business as usual as only those politicians with the right business policies will be voted for in the next dispensation.
“It has become necessary to let the world know that over time we have been undermined and pushed aside both in policies and governance. We are therefore using this medium to make our stand known to the government and the incoming government in 2023 that it’s not going to be business as usual”
While assuring that the sector would witness tremendous growth if all the measures are put in place and implemented by the government, Umani said their prayer is that the government should develop at least three industrial hubs and power plants for cottage industries and artisans’ development in the three senatorial districts of the state
He also urged the government to proclaim an executive order for industrial funding through the business community for SMEs, cottage industries, research, and development.
Copyright PUNCH.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Contact: [email protected]
