LCCI raises the alarm over proposed postal commission bill

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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.

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“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.

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