NECA Calls for Dialogue Amid #Endbadgovernance Protests

The Nigeria Employers’ Consultative Association (NECA) has urged the #Endbadgovernance protesters to sheath their swords and embrace dialogue.

Director-General/Chief Executive of NECA, Mr Adewale-Smatt Oyerinde, made this appeal in the group’s recent statement, following a national address by President Bola Tinubu. Oyerinde condemned the unfortunate looting that characterized the protests in some parts of the nation.

According to him, we commend the President for addressing the nation on the protest and the many ongoing efforts of the government to address the pains of Nigerians. We urge, most urgently, that government should also give urgent attention to the myriads of contradictions bedeviling the private sector, to enable the economy to open up and return to the path of rapid growth.

Oyerinde noted that these contradictions were strangling the organized private sector and preventing it from fulfilling its role as the engine of development.

Sharing some of the contradictions, the NECA boss pointed out that while the nation grapples with high unemployment rates and low business capacity utilization, some regulatory agencies continue to create bottlenecks for business growth.

Specifically, he urged the federal government to implement the reports of the Taiwo Oyedele-led Presidential Committee on Tax and Fiscal Policy Reforms, which, according to him, engaged critical stakeholders and built consensus on tax reforms.

Oyerinde criticized the ongoing situation where some agencies introduce new levies and other forms of taxes, undermining the main reason for the establishment of the Committee.

 “The expectations that Dangote Refinery will contribute to reducing the nation’s propensity for fuel importation were almost dashed by regulatory bottlenecks in the Oil and Gas industry. This is especially worrisome given the significant time and effort the President has invested in wooing Foreign Direct Investors. We thank the President for taking the decision that paved the way for the sale of crude to the Dangote refinery in Naira,” he said.

Oyerinde urged the government to address the ‘low hanging fruit’ solutions to get the real sector back on track.

He said some of the interventions included issuing strict directives to regulatory agencies to prioritize regulation over the current seeming unquenchable thirst to impose penalties on already struggling businesses.

He emphasized that NECA was not against pro-growth regulations but concerned about the current pervasive arbitrary drive for revenue.

Oyerinde also urged the government to curtail rising interest and inflation rates and address forex volatility.