By Raphael Ede
Enugu
Participants at a one-day media parley in advocacy programme on understanding the effects and impact of corruption on business and economic development, have called on governments at all levels to harmonize and streamline multiple taxes imposed on businesses to encourage the growth of businesses and create jobs.
The advocacy programme organised by Enugu Coalition of Business and Professional Association (ECOBPA), multiple taxes on businesses and corruption among government agencies charged with tax collection has hampered business operations forcing many to close down while encouraging out of job.
In his remarks, the Chairman of ECOBPA, Dr. Ifeanyi Okoye represented by his Deputy Ozo Ramsey Onyia said the media parley with journalist is geared towards their concerted efforts to partner and work together to make our society a better place. Particularly in our avowed commitments towards improving the business environment for businesses to thrive, to generate more jobs and creating more wealth for the economic well being of our people.
He said the invitation of press is to discuss and share experience towards finding solution to the myriads of challenges inhibiting the growth of business and development of our economy in Enugu State.
Findings in a survey conducted by ECOBPA, on the effects and impacts of corruption on commerce and business development in Nigeria shows that cause and effect of corruption on business revealed that;
“Poor domestic business environment is the bane of private sector competitiveness resulting from: weak institutions like legal and political. Poor emolument both from public and private and promotion unconnected to performance.
“Cost of doing business is quite high due to infrastructural inadequacies, weak operating capacities of the MSMEs and corruption among others according to the study of African Institute for Applied Economics (African Heritage Institution) 2007. Declining productivity as a result of hampered economic activities due to various shades of corrupt practices which in turn affect economic growth.
