The Nigeria Employers’ Consultative Association on Monday said the economic reforms introduced by the Federal Government have yet to ease the burden on businesses, as firms continue to battle soaring energy costs, inflation, unstable exchange rates and multiple taxes.
The association, however, acknowledged that the reforms were necessary to reposition the economy for sustainable growth.
The employers’ association disclosed this at its two-day Employers’ Summit in Abuja, themed “Leveraging Reforms and ESG for Enterprise Competitiveness and Inclusive National Growth.”
Speaking at the opening ceremony of the fifth edition of the summit in Abuja, the President of NECA, Ifeanyi Okoye, represented by the association’s Treasurer, Richard Ayibiowu, said the summit was taking place at a critical point in Nigeria’s economic transformation journey.
He noted that the time had come to undertake a comprehensive review of the impact of the reforms on businesses, employment and investment, warning that many enterprises, particularly Micro, Small and Medium Enterprises, were finding it increasingly difficult to cope with the adjustment burden.
