The Nigeria Employers’ Consultative Association, NECA, urged the Federal Government to be more definitive in its pronouncements and expedite action on all announced palliatives, saying there is little to cheer in President Tinubu’s speech.
Reacting to the speech in Lagos, the Director-General of NECA, Adewale-Smatt Oyerinde, said “While we commend the President’s commitment to fix the economy and alleviate the suffering of Nigerians and organized businesses, more definitive, broader interventions with timelines for implementation will also be very important. The President’s address was full of intent, without definitive timelines for the implementation of the laudable plans.”
The NECA DG noted that “while the announced N25,000 wage adjustment for a section of the public servants, provision of CNG buses, and further increase of the social safety net investments to cover another 15 million households are commendable, the wage award doesn’t take into cognizance the fact that all Nigerians, including organized businesses, are affected by the fuel subsidy removal and also need some measure of support.
Having mentioned the procurement of the CNG buses in his August address to the nation, we had expected a more definitive and time-bound pronouncement on when the buses would be procured and put to use. It is important that procurement be accelerated to aid the populace and reduce transportation pressures.
“The need for wider consultation and private sector engagement cannot be over-emphasized. While the government continues to roll out its plans to ameliorate the challenges facing the populace, more definite efforts with realistic timelines should be made to revive the economy, with the organized private sector being the engine of national development. It is not enough for the Federal Government to dole out money in the name of palliatives to state governments; more innovative, effective, and track able distribution and monitoring mechanisms should also be put in place to measure the impact and efficiency of the implemented schemes.”
