LCCI raises the alarm over proposed postal commission bill

The Lagos Chamber of Commerce and Industry (LCCI) has raised the alarm that the proposed postal commission bill currently before the National Assembly will lead to plenty of loss.

According to LCCI in a statement by its Director General, Muda Yusuf on Sunday, the bill, in its curent form, threatens about 100,000 jobs and N300 billion investment in the courier services business.

Yusuf, who expressed the chamber’s reservation about the bill, said that it was inimical to private sector investments in the courier business.

According to him, the bill would further worsen the country’s risk rating and increase the already negative perception investors have about Nigeria.

Read also: FG signs $21m power plant rehabilitation deal with Japanese govt

“It is a negation of the ease of doing business agenda of the Federal Government and not in consonance with the fundamental principles of the Economic Recovery and Growth Plan,” the statement read in part.

He also said: “The LCCI is worried, in particular, about the following provisions in the bill; imposition of an annual levy of 2.5 per cent of the turnover of courier companies to be paid to the proposed Postal Services Commission; powers conferred on the proposed PSC to fix rates for courier services; monopoly privilege conferred on the Nigerian Postal Service for delivery of items weighing 1kg and below.”

He further noted that all the provisions are not consistent with the commitment of the National Assembly to private sector development which was affirmed by the Senate President, Dr Bukola Saraki, at the inauguration of the National Assembly Business Environment Roundtable in March 2016.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now