WorldStage– The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to balance business sustainability with job creation to achieve inclusive economic growth.
The Director-General of NECA, Mr Adewale-Smatt Oyerinde, made the call in an interview with newsmen on Tuesday in Abuja.
In the interview on the sidelines of the fifth Nigeria Employers’ Summit, Oyerinde said sustainable businesses remained the foundation of employment generation and national development.
He said enterprises must survive before creating decent jobs and contributing meaningfully to the economy.
“There must be a business before there are workers. It takes a sustainable business to create jobs,” he said.
According to him, thriving businesses also generate company income taxes, making them vital to government revenue and economic stability.
He urged government to pursue policies that promote business competitiveness while protecting workers through decent jobs, adequate remuneration and improved workplace conditions.
“We must consistently create that balance.
“A surviving business must create decent jobs, including adequate remuneration,” he said.
Oyerinde said NECA had sustained engagement with government to ensure economic reforms reflected the interests of employers, employees and the broader economy.
He said stronger collaboration between government and the organised private sector remained essential for successful implementation of the reforms.
“Government needs the collaboration and support of organised businesses to drive these reforms effectively,” he said.
Oyerinde said the summit reviewed key economic reforms and explored opportunities in Environmental, Social and Governance (ESG) principles.
He said recommendations from the summit would be presented to relevant ministries and agencies as practical options for achieving government’s economic objectives.
“Our recommendations are not frivolous or antagonistic.
“They offer alternative pathways to achieving national economic goals,” he said.
Oyerinde acknowledged that fuel subsidy removal had raised operating costs and weakened consumers’ purchasing power.
However, he described the policy as necessary to correct longstanding economic distortions.
He also described the unified foreign exchange window as one of government’s most significant economic reforms.
Oyerinde commended reforms in the aviation sector and expressed optimism they would strengthen the economy despite current challenges.
“We have stopped digging the economic hole. We are gradually filling it,” he said.He expressed confidence that Nigerians would ultimately reap the full benefits of the ongoing reforms.
