The Nigeria Employers’ Consultative Association, NECA, has called on the federal government to promote locally-made goods, News About Nigeria reports.
According to the association, this will minimise the growing unemployment rate in the country.
NECA’s Director-General, Adewale-Smatt Oyerinde, made this known in a statement, noting that locally made goods can be promoted effectively by providing critical infrastructure, stabilising the foreign exchange market and ensuring that ministries, departments, and agencies are appraised not only by how much income they generate but also by how many businesses they facilitate or promote.
According to him, this will go a long way in reducing the rate of unemployment currently ravaging the country.
Oyerinde further expressed concerns over the ongoing divestment of multinationals in Nigeria, stating that no fewer than 20,000 direct employees have lost their jobs to such divestments in recent times. He said that this is worrisome and harmful to the economy.
He went on to mention that the continuous divestment of global businesses and closure of local ones were not only disastrous to organised businesses but also for labour, government revenue and Nigerian households in general.
He therefore urged the government to provide lasting solutions, as these could lead to increased insecurity challenges and increase the occurrence of child labour, while adversely affecting the disposable income of families, eroding the purchasing power of individuals and drastically reducing the economy’s output.
He also urged the government to urgently address regulatory and legislative bottlenecks that tend to stifle businesses rather than promote them.
NECA is the umbrella body for employers and the voice of business in Nigeria.