Finally FGN recognises death of industries as a reason for inflation

FEC Directs Council To Stem Rising Cost of Goods.


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President Bola Tinubu has directed the Presidential Council on Industrial Revitalization to fast track their reports and reviews and come up with their recommendations.

These recommendations was aimed at moving the real sector to enviable heights in line with the Renewed Hope Agenda.

The Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite, made this known to State House Correspondents after the Federal Executive Council, FEC mee.

She said the review would stem the rising cost of goods and services, as well as the rising cost of doing business in the country.

The Minister explained that FEC deliberated on how the government could improve the business environment for manufacturers and industrialists to promote and protect local industries and manufacturers.

According to the Minister, this would remove hurdles and bottlenecks impeding businesses, and jumpstart the economy again to bring about a double-digit growth rate in the GDP, as well as track the President’s vision to achieve a one- trillion economy.

She listed the hurdles as multiple taxation, multiple levies, customs duties and sundry burdens imposed on businesses, infrastructure decay, and power.

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