Bimbola Oyesola
The Manufacturers Association of Nigeria (MAN) has cautioned the Federal Government over its rising debt profile in view of the associated service charges and the future economic burden.
President of MAN, Dr. Frank Jacobs, warned that for the 2018 budget tagged, “Budget of Consolidation” to achieve the desired objectives with minimal negative impact on the manufacturing sector, it is important that government considers the review of Company Income Tax (CIT) downward from the current 30 per cent to about 20 per cent.
He said this should be targeted at employing Nigerians into technical function to reflect the prevailing operating environment and economic situation of the country. He stated that the current government recurrent expenditure is on the high side and should be reduced.