NECA urges FG to adopt alternative policies for private sector growth

The Director-General of the Nigeria Employers’ Consultative Association, Mr Adewale Oyerinde, has encouraged the Federal Government to adopt alternative policies to foster growth and development in the private sector.

Oyerinde said that during a press conference on the upcoming  Nigeria Employers’ Summit, themed ‘Economic Renaissance: Harnessing Government Reforms and Private Sector Agility’, scheduled to be held on June 25-26, 2024, in Abuja.

He remarked that the private sector had established itself as an essential pillar for national development.

He noted that having endured various reforms and economic plans, it consistently acts as the primary engine of national growth.

“The summit facilitates dialogue between employers, government agencies, and stakeholders to address crucial issues in the private sector. It aims to strengthen engagement and propose alternative policies, acknowledging the government’s need for recommendations,” Oyerinde said.

According to the NECA boss, the new government’s reforms are impacting national life differently, stating that NECA aimed to facilitate opportunities for government interaction with organised businesses on these reforms.

He further mentioned that the summit aimed to connect the reforms with the private sector rather than scrutinise them, noting that it would also explore how the government could leverage the private sector’s agility to navigate those reforms and achieve the desired outcomes.

“We believe the coming years can be very prosperous for Nigeria. By creating such platforms, we can share perspectives and guide the government through business challenges, leveraging the private sector’s flexibility,” he added.

Also,  the Chairman, of the Committee of Finance Experts, NECA, who is also the co-chair of the summit,  Mr Olumuyiwa Adebayo, said, “The summit will allow employers of labour to sit with those are policymakers to share the common ground of understanding some of the goals of the summit which entails fostering dialogue.

“We understand that we are in a democratic system and to allow government’s activities to function appropriately and achieve its goals we need to support the government, and to support them in policy making and also to call government to order when there is a need to do so and this is through advocacy.”

According to Adebayo, the government needs to create an enabling environment for businesses to thrive.

He stated, “The government cannot become a major employer of labour because small and large businesses who fall under the organised private sector are key instruments to economic growth and development.”

On her part, the Chairperson NECA Committee Corporate Communications and Public Affairs and co-chair of the Annual Nigeria Employers’ Summit, Mrs Victoria Uwadoka, emphasised the importance of collaboration between the private sector and the government.

Uwadoka said, “The essence of the summit is to work together to develop the strategies that would drive economic growth. There are a lot of reforms that are going on right now, some of which will begin to result in the short term and long term, but we need to look at where we are right now and look at the things that can quickly revamp the economy so that businesses can thrive better.”