The Director of the Centre for the Promotion of Private Enterprise, CPPE, Muda Yusuf says the relaxation of import duty as contained in the ASAP would calm raging inflation in Nigeria.
Muda noted that the plan will address many of the burning economic issues bothering real sector investors.
He urged Tinubu’s government to expedite action in implementing the plan for the progress of Nigeria’s economy.
“The proposed Accelerated Stabilisation and Advancement Plan is a laudable proposition coming from the Finance Minister. It addresses many of the burning economic issues bothering real sector investors.
“The plan contains robust and comprehensive fiscal policy measures that stakeholders in the real economy had clamored for over the past year. It addresses the concerns of investors on high interest rates, high cost of cargo clearance at the ports, and high import duty regimes.
“The relaxation of import duties on critical raw materials for manufacturers would calm the raging inflationary pressures in the economy, especially food inflation.
“The fiscal measures reflect the responsiveness of the administration to the concerns of investors in the real economy. We urge for expeditious implementation of the plan, once approved by the president,” he said.
