The Organised Private Sector (OPS) has urged for a fair and impact-driven distribution of government import waivers, highlighting transparency as crucial for economic growth and support to local industries.
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, emphasized the need for a transparent assessment of each waiver’s impact during a recent media briefing. He argued for sector-specific waivers over individual company grants to ensure fairness and prevent undue advantages.
Yusuf stressed the importance of evaluating waivers based on their economic impact, noting their potential to boost manufacturing output and create employment. He advocated for comprehensive impact assessments to justify the revenue losses associated with waivers, ensuring tangible economic benefits.
Meanwhile, Comptroller General of Customs Adewale Adeniyi disclosed before the National Assembly that Nigeria had forfeited N1.34 trillion in waivers and concessions granted under former President Muhammadu Buhari’s administration. Pius Ujubonu from the Association of Nigerian Licensed Customs Agents defended waivers as crucial for stimulating trade amid economic challenges, urging their targeted distribution to support business stability and growth.
“Incentivization is essential for trade stimulation,” Ujubonu emphasized, addressing concerns over reduced cargo throughput due to economic constraints and policy inefficiencies affecting business operations
