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MAN pleas Govt to withdraw VAT on textiles
15
May '08
The Manufacturers Association of Nigeria (MAN) has appealed the Federal Government to remove Value Added Tax (VAT) on textiles as a measure to revive the collapsing industry.

The grievances were taken up at a workshop organized by Arewa Media Forum, where Senator Walid Jibrin, Vice President of MAN, suggested that the Government must, “consider VAT exemption on textiles, and ensure ban enforcement and effective implementation of N70 billion naira revival funds.”

Mr Walid brought to the notice of the Government that the textile industry made significant contribution to Nigerian economy and he therefore lamented this deteriorating condition of the sector due to import prohibition enforcement and rising cost of production.

Besides, the influx of smuggled goods is also plaguing the textile industry where nearly 80 percent of the market share is held by illegally transacted goods.

Despite the industry being the largest employer of labors, looming cases of unemployment is making the situation graver.

Now, it is all left to the Government to decide how discreetly, it would ensure to bring life to the dying textile industry. Experts hope that this time the pleas made by the manufacturers are taken seriously and a concrete measure is undertaken to relieve the sector from its miseries.


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Courtesy: Business wire

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