The Chemical and Non-Metallic Products Employers’ Federation (CANMPEF) has called for a robust environment that would enable businesses to thrive in the country.
The federation made the call at its 44th Annual General Meeting (AGM) in Lagos on Wednesday.
The CANMPEF President, Chief Devakumar Edwin, said that the Federal Government should improve the ease of doing business as well as provide support and incentives to businesses, especially Small and Medium Enterprises.
Edwin said that in order to rejig the economy, the government should scale up efforts to create an attractive environment for domestic and foreign investments.
According to him, this initiative will help to reduce the number of companies exiting the country by streamlining regulatory processes, harmonize taxes and reduce bureaucratic red tape.
“A turnaround of the economy will require increased investment in infrastructure including roads, ports, railways, energy, healthcare and education, which will enhance productivity, attract investment and stimulate economic growth,” Edwin said.
The Executive Secretary, CANMPEF, Mr Femi Oke, appealed to the government to be deliberate in tackling the challenges around the country’s foreign exchange market and energy sector as it affected manufacturers.
Oke noted that the federation was one of the highest employer of labour in the country, adding that a robust manufacturing ecosystem would contribute greatly to economic improvement.
He listed some of the challenges manufacturers were facing to include rising inflation, skyrocketing energy and food crises, weak consumer and purchasing power, incessant exchange rate and depreciation of the naira.
The executive secretary urged the government to support local businesses to boost employment generation and stimulate economic growth through fiscal policy balance and massive investment in infrastructure.
The highlight of the AGM was the introduction of the 2022 principal officers of the federation who will steer the ship of CANMPEF for the 2023/2024 financial year.
They include Chief Devakumar Edwin, President; Mr Rotimi Aluko, Ist Vice-President; Mr Denis Simonin, 2nd Vice-President and Mr Femi Oke, Executive Secretary.
The AGM was attended by captains of industry who are members of CANMPEF, and representatives of organised labour.
