Centre for the Promotion of Private Enterprise (CPPE) has said some tax and import duty provisions in the 2023 Fiscal Policy measures of the federal government would significantly hurt the economy and worsen the de-industrialisation worries in the Nigerian economy.
The CEO of CPPE, Dr. Muda Yusuf, stated that the construction and transportation sectors are also vulnerable to fiscal policy-induced downside risks.
According to him, some of the measures could exacerbate inflationary pressures which are detrimental to economic growth and manufacturing, construction and transportation sectors.
“It is double whammy for economic players to contend with a regime of high import duty, prohibitive tax rates amid a depreciating currency.
