LCCI: Manufacturers Burdened by Excessive Regulations, Multiple Registrations

Manufacturers in Nigeria, particularly small and medium-sized enterprises (SMEs), are struggling under excessive regulatory burdens, according to the President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Leye Kupoluyi. He highlighted that companies face multiple registration requirements for products with the same formulation but different packaging sizes. This duplication inflates compliance costs, delays market entry, and hinders business expansion.

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Manufacturers, particularly small and medium-sized enterprises, have continued to face excessive regulatory burdens arising from multiple registration requirements for products with identical formulations but different packaging sizes.

Kupoluyi urged regulatory agencies to harmonize product registration processes and adopt a risk-based approach to eliminate unnecessary duplication while ensuring product safety. He also pointed to policy inconsistencies in agricultural exports and monetary policy as significant deterrents to investment in the sector. Uncertainty surrounding cocoa export policies, coupled with high interest rates, is escalating production costs and eroding investor confidence.

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This duplication increases compliance costs, delays market entry, and constrains business expansion. We call on relevant regulatory agencies to harmonize product registration requirements and adopt a risk-based approach that eliminates unnecessary duplication while maintaining product safety standards.

The LCCI president also expressed concern over the declining patronage of Nigeria's printing industry. Despite having the capacity for large-scale projects, local firms face an uneven playing field. Imported books enter the country duty-free under international agreements, while domestic operators are taxed on imported printing inputs. Kupoluyi called for prioritizing local printing firms in public procurement and strengthening domestic paper production.

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Frequent policy reversals and inconsistencies, particularly regarding agricultural exports and monetary policy, have continued to discourage investment within the sector.