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Business Morning: Naira Devaluation Brought Burden On Private Sector Pt.1
Posted
December 16, 2014
Views
184
December 16, 2014
184
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14:25Now PlayingThe Director General, Lagos State Chamber of Commerce, Muda Yusuf, speaking about exchange rate volatility on Business Morning.
He said that the challenge of devaluation and exchange rate depreciation has brought a lot of burden on the private sector.
"When we manage an economy, we don't do that in abstract. It is done to advance productivity, create jobs, alleviate poverty and improve the welfare of the people. That is the ultimate goal," he said.
He insisted that it was not a time to impose additional burden on businesses.
With the trend of things, it is not possible for the government to retain its workforce.
He bemoaned the increase in interest rates by the Central Bank of Nigeria and other taxes by government agencies.
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