The Lagos chamber of commerce and industry (LCCI) has identified multiple taxes and levies by the government as one of the problems bedeviling the industry.
Speaking at the 119th Annual General Meeting of the LCCI, the out-going president of the LCCI, Dr. Herb Ademola Ajayi disclosed, “the problem of multiple taxes and levies is one of the harrowing experiences of investors in the nation’s economy.”
He said the LCC has made representation to relevant authorities at the federal, state and local government levels, but regrettably, the menace has persisted.
Among other cog to the smooth operation of business, Ademola noted that the Niger Delta problem has become a major national security challenge, which is a formidable threat to the nation’s foreign exchange earnings and the stability of the national economy.
According to him, “incidents of kidnapping and hostage taking have been on the increase.
He added that, the economic regeneration of the region needs to be urgently addressed in the light of the phenomenal deprivation that oil exploration and production had brought upon many communities.
Ademola urged that decisive step should be concurrently taken to tackle the increasing criminal activities in the arena.
The out-going president disclosed that the sum of N74m was raised in donations and levies for the chamber’s four storey conference and exhibition center project which started from foundation and got to the fourth and roofing level within the two years of their being in the saddle.
Dec82007