May 23, 2018

Price stability can stimulate the economy – MAN

Price stability can stimulate the economy – MAN

The Manufacturers Association of Nigeria (MAN) has canvassed a strong focus on price stability and economic growth, with integration of the monetary and fiscal policies to stimulate the economy.

Speaking to The Nation, its President, Dr. Frank Udemba Jacobs, said there was a need for the Federal Government to show strong commitment to resolving the challenges facing the nation by reducing the interest rate on refinancing operations if the manufacturing sector had to stimulate the economy.

He said: “The government must work towards the reduction of Company Income Tax (CIT) to 15 per cent for manufacturers as a way of attracting further investments aimed at pulling the economy out of recession as has been done in other countries with success. It must support the banking sector to maintain the flow of credit, and low interest rate of not more than five per cent”. The MAN chief canvassed the exploitation of the over 35 solid minerals across the country. Read more

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