Manufacturers Association of Nigeria MAN
Business

MAN: Overregulation depressed productivity in Q2

A new survey on the stable of Manufacturers Association of Nigeria (MAN) has revealed the extent at which government agencies’ overregulation of the country’s manufacturing sector affected productivity in the second quarter (Q2) of 2021. MAN, in the latest report made available to New Telegraph, disclosed that some manufacturers, about 95 per cent of them, were sweating it out due to overregulation by government agencies, which has affected their productive capacity to remain stable.

The association explained that manufacturers suffered multiple regulation on a single manufacturing process occasioned by agencies of the federal, state and local governments in Q2’21. According to MAN in the report, the persistent multiple and over regulationn, if allowed to continue, will bring further depression on the economy, which will retard the industrial sector’s contribution to the country’s Gross Domestic Product. MAN said: “Reponses from manufacturers show that over-regulation of the manufacturing sector by government agencies still persisted in the quarter under review.

“Majority of respondent, 95 per cent agreed that multiple and over regulation by government agencies have depressing effect on manufacturing productivity. Three per cent of respondents are not sure, while the remaining two per cent simply disagreed. “However, manufacturers suffer multiple regulation on a single manufacturing process occasioned by the agencies of the federal, state and local governments.” However, the association called on the Federal Government to begin the full implementation of the Steve Orasanye Commission report on Harmonisation and Rationalisation of Government Agencies to save local manufacturers from multiple and over regulation by government agencies. “The Federal Government has in its possession the Steve Orasanye Commission report on Harmonisation and Rationalisation of Government Agencies, it is important to commence full implementation of the content of the report backed with proper monitoring and evaluation,” MAN said.

Also, MAN reported in the survey that 95 per cent of manufacturing chief executive officers enumerated agreed that multiple taxes and levies charged by government agencies had depressing effect on manufacturing production. Four per cent of the respondents were not sure of the implication on the sector while only one per cent disagreed. Apart from the approved list of taxes and levies to be charged to companies as compiled by the Joint Tax Board (JTB), there are a large number of outside taxes, levies and fees that are charged to manufacturers by the revenue generating agencies of the government. According to the association, it is, therefore, important for government to publish the list of taxes and levies compiled by the JTB and ensure that all charges to the manufacturing sector are legal.

 

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