NECA calls on FG to adopt alternative policies for private sector development

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

Oyerinde said this during a press conference on the upcoming Nigeria Employers Summit titled “Economic Renaissance: Harnessing Government Reforms and Private Sector Flexibility” to be held on June 25-26, 2024 in Abuja.

He noted that the private sector has become an essential pillar of the country’s development.

He noted that having survived various reforms and economic plans, it has consistently played the role of the country’s main growth engine.

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

According to the NECA chief, the new government’s reforms are impacting national life in various ways, stating that NECA aimed to facilitate the government’s interaction with organized enterprises on these reforms.

He further mentioned that the aim of the summit was to link reforms to the private sector rather than analyze them, noting that the summit would also explore how the government could leverage the flexibility of the private sector to drive these reforms and achieve the desired outcomes.

“We believe that 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 flexibility of the private sector,” he added.

Additionally, the Chairman of the NECA Committee of Financial Experts, who is also the Co-Chairman of the Summit, Mr. Olumuyiwa Adebayo, said: “The Summit will enable employers to engage with policy makers to share common ground in understanding some of the objectives of the Summit, which involves fostering dialogue.

“We understand that we live in a democracy and for government operations to function properly and achieve their goals, we must support the government and assist it in making policy, and also call the government to order when necessary, and this is done through advocacy.”

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

He stated: “The government cannot become a major employer because small and large enterprises belonging to the organized private sector are key instruments of economic growth and development.”

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

Uwadoka said: “The essence of the summit is to work together to develop strategies that will drive economic growth. There are many reforms taking place now and some of them will start to show results in the short and long term, but we need to look at where we are now and look at the factors that can quickly revitalize the economy so that businesses can thrive more.”