In a statement, Mr Abubakar urged the government to create a more positive business climate, stating that the increase in inflation had complicated the business climate and deepened the challenges facing small-scale businesses. He also mentioned that the logistic issues compounded by insecurity have made it difficult for businesses to operate.
He further criticised the government's cash swap policy, which he said negatively affected businesses, especially Micro Small and Medium Enterprises (MSMEs). He called on the government to implement business-friendly policies to help businesses thrive.
Mr Abubakar also urged the government to invest in infrastructure, especially in the area of power supply, as fuel and diesel are the major sources of energy for running businesses. He emphasised that the high cost of power generation is affecting businesses, making it difficult for them to compete effectively.
The ACCI President also advised the government to increase its efforts to attract foreign investment, stating that foreign investment would help to improve the economy and reduce the inflation rate.
He called on the government to ensure that the exchange rate remains stable, saying that a stable exchange rate is essential for businesses to thrive. He urged the government to adopt policies that would encourage local production, as this would reduce the country's dependence on imported goods.
Mr Abubakar also called for the government to address the issue of multiple taxations, saying that multiple taxes and levies imposed by different levels of government were hurting businesses.