NACCIMA: Finance Bill 2022 will hurt private businesses

• Published date: 02 February 2023
• Publication title: Nigeria - The Nation

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has expressed worries over what it considered as the negative impact of the recently passed Finance Bill 2022 by the National Assembly on the growth and development of the private sector.

NACCIMA said for a sector already weighed down by scarcity of forex, poor business environment, high cost of energy, among other macroeconomic indices, any further tax increases onbusinesses as contemplated by the 2022 Finance Bill might lead to shut down ofmany companies and worsen the already bad unemployment crises in.

Speaking at its First Quarter Press Briefing in Lagos, NACCIMA National President Ide John C. U.deagbala, lamented that attempts by the 2022 Finance Bill to add more financial...