says debt may hinder achievements of Tinubu’s administrationThe Manufacturers Association of Nigeria has lamented that the Federal Government is placing its N77tn debt burden on the manufacturers in the country. The association also said its members have been hit with high multiple taxes. It revealed that the depreciation of the naira is also caused by the servicing of external debts in foreign currencies. “The manufacturing sector which has always been at the receiving end has not felt any significant impact of the debt finance on the numerous challenges that have bedeviled its performance in many years. Further identify and amend the loopholes in the tax laws in order to reduce the leakage of tax revenues.

Source: Punch August 22, 2023 16:58 UTC