Nigeria TV Info — Business News
Former president of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Oye, has alleged that the National Agency for Food and Drug Administration and Control (NAFDAC) charges companies for the cost of raiding their facilities.
Speaking in an interview with Nairametrics on Friday, Oye claimed that such actions by regulatory agencies discourage investment in the country and ultimately push businesses away.
According to him, investors receive little support after committing their resources to Nigeria.
There's no aftercare after investment in Nigeria from any government agency; they are only looking for funds. Everyone," he said.
Oye noted that instead of creating an enabling environment for businesses to thrive, some regulatory bodies prioritize revenue generation through various levies and charges. He added that this situation has contributed to the dwindling confidence of both local and foreign investors in the Nigerian business climate.
He urged the government to strengthen its regulatory framework and focus on supporting businesses rather than frustrating them with unnecessary charges and burdensome processes.
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