The Abuja Chamber of Commerce and Industry (ACCI) has called on the Federal Government to streamline regulatory frameworks to eliminate overlapping and complex processes that hinder business operations in Nigeria.
This appeal was made by the Director-General of ACCI, Mr. Agabaidu Jideani, during a discussion on fostering a conducive business environment in Abuja on Monday.
Mr. Jideani emphasized the importance of creating a stable and supportive environment to attract and retain investors, thereby enhancing business activities nationwide.
“Government should prioritise the implementation of business-friendly policies and focus on improving budget execution, particularly in infrastructure development,” he said.
He further urged the government to expedite tax reforms, simplify procedures, and address issues like multiple taxation, delays, and high costs associated with obtaining permits and licenses.
“Government should ensure effective and timely implementation of infrastructure projects to enhance the operating environment for businesses,” Jideani added.
Focus on SMEs
Jideani stressed the importance of supporting Small and Medium Enterprises (SMEs), which are vital to Nigeria’s economic development.
“SMEs should be supported with reduction of regulatory burdens to allow them to operate efficiently, enhancing access to affordable financing and resources to enable their growth and sustainability,” he stated.
- He called for the protection of SMEs from harassment and intimidation by government agencies and municipal authorities, noting that such measures would promote their growth and sustainability.
- Highlighting the need for collaboration, Jideani noted that the government and private sector must work together to create a business-friendly environment that supports growth and development.
He also encouraged businesses to adopt modern technologies, including Artificial Intelligence, to improve operational efficiency and enhance customer satisfaction
Employee welfare
The ACCI Director-General advised business owners to prioritize employee welfare and foster better work-life balance, which he said would boost productivity, improve talent retention, and enhance overall business performance.
Jideani reaffirmed ACCI’s commitment to driving economic growth and facilitating collaboration among stakeholders in Nigeria’s business ecosystem.
