The Organised Private Sector of Nigeria has called for urgent economic and regulatory reforms, warning that mounting tax and regulatory pressures are threatening the survival and growth of businesses across the country.

Speaking at the OPSN strategy meeting on Friday, the Chairman of OPSN, Jani Ibrahim, said Nigeria’s private sector, which drives employment, innovation, and economic growth, is under intense strain from multiple taxation, rising operating costs, and policy inconsistencies.

Ibrahim noted that small and medium-sized enterprises account for over 90 per cent of businesses and more than 80 per cent of employment, yet continue to struggle with high input costs, exchange rate volatility, energy constraints, logistics inefficiencies, and declining consumer purchasing power.

“These pressures are forcing many firms to scale down production, delay investment decisions, and cut jobs, posing risks to national competitiveness and economic stability,” Ibrahim said.

The OPSN chairman urged government at all levels to treat private sector survival as a national priority by ensuring policy coherence, affordable access to finance, and smarter regulation.

He criticised cumbersome business registration processes, overlapping regulatory inspections, and duplicative compliance demands, which he said significantly increase the cost of doing business.

On taxation, Ibrahim said, “Excessive and uncoordinated tax demands from multiple agencies have become a major burden for businesses, particularly SMEs and manufacturers.”

He called for reforms that would simplify the tax system, eliminate arbitrary levies, and ensure fairness and predictability.

Also speaking, the National President of the Nigeria Association of Small and Medium Enterprises (NASME), Dr. Abdulrashid Yerima, described ongoing tax reforms as a welcome step, saying they have the potential to ease long-standing challenges facing MSMEs.

Yerima explained that for years, small businesses have been subjected to overlapping taxes imposed by different tiers of government, as well as unauthorised collections by non-state actors, which have eroded profitability and discouraged expansion.

He expressed optimism that a clearer and more predictable tax framework would enable MSMEs to reinvest, grow their operations, and create jobs, but stressed that effective monitoring and faithful implementation are critical to achieving these outcomes.

President of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshioye, also supported the reforms but warned that poor implementation, especially by sub-national governments, could undermine their benefits.

Meshioye cautioned that inconsistent application of tax laws across states would create uncertainty for investors and weaken confidence in the business environment. He called for continuous engagement with relevant authorities to curb abuses by illegal tax collectors and ensure uniform enforcement of approved tax provisions.

According to him, only a transparent, predictable, and well-implemented tax regime can restore business confidence, attract investment, and reposition Nigeria’s manufacturing sector for sustainable growth. (The PUNCH)

•PHOTO: L-R Director General NASSI, Chris Oputa, President of NASME, Dr. Abdulrashi Yerima, Chairman Presidential Tax Committee, Mr Taiwo Oyedele, Chairman OPSN, President