ACCI Urges Federal Govt to Establish Reliable Database For MSMEs Support

In a statement on Wednesday, Emeka Obegolu, president of ACCI, lauded the resilience of Nigeria’s business community in overcoming the economic challenges of 2024.

He commended their unwavering commitment to innovation and growth while expressing optimism for renewed opportunities in 2025.

Obegolu urged all tiers of government to harmonise tax policies, address the challenges of multiple taxation, and reduce high operational costs that hinder business operations.

He also called on the federal government to prioritise improving the ease of doing business and enhancing Nigeria’s global competitiveness.

“Streamlining regulations, eliminating administrative bottlenecks, and implementing business-friendly policies are crucial steps,” Obegolu said.

“The government should also improve access to financing and establish a reliable database of active businesses to support Micro, Small, and Medium Enterprises (MSMEs), which play a vital role in the Nigerian economy.”

Obegolu commended the N4.06 trillion allocation for infrastructure in the 2025 budget, highlighting its potential to boost productivity, create jobs, and drive economic growth in key sectors like transport, energy, and housing.

The ACCI president also welcomed the government’s macroeconomic stabilisation goals, including reducing inflation and stabilising the exchange rate, as essential for attracting investments and improving the business environment.

Obegolu, however, stressed the need for effective budget implementation, advising the government to adhere to timelines, ensure transparency, and adopt a results-driven approach to maximise the impact of allocated funds.

He further advised the government to adopt cautious revenue projections, improve collection mechanisms to reduce leakages, and implement balanced tax policies that support business growth.

Reaffirming ACCI’s commitment to collaborating with the government, Obegolu pledged the chamber’s support in aligning policies with business realities and promoting private-sector-led growth.

He also advocated for increased investments in green initiatives and inclusive strategies to benefit rural and marginalised communities.