An Industrialist Chief Alexander Mmaduakor has called on the federal government to ban the importation of certain products that can be manufactured in Nigeria as a way of encouraging the growth of indigenous firms.
Speaking to the ABS at his country home Umuomaku in Orumba South Local Government Area, Chief Mmaduakor maintained that products manufactured in Nigeria are of better quality when compared to those manufactured abroad.
He said that when Nigerians form the habit of patronizing locally made products it will go a long way in improving the gross domestic product of the country, in addition to strengthening the growth of indigenous firms.
Chief Mmaduakor who is an Aba based industrialist regretted the multiple taxation being charged on manufacturers and called on the federal government to seek ways of exempting manufacturers from paying some tax and levies as a way of encouraging its growth and development.
He called for serious partnership between the government and private sector especially in the area of assisting them with loans at reduced interest rates in addition to granting new industries a tax holiday of at least five years.
Chief Mmaduakor used the opportunity to make a strong case for total revamping of the Nations power sector as part of efforts aimed at improving the living standards of the people and enhanced business transactions.
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