Saturday, May 15, 2021
30 C
Saturday, May 15, 2021

LCCI, NECA, PENGASSAN demand stimulus packages, PIB passage

Must read

Samuel Awoyinfa

Ahead of this year’s Workers’ Day, popularly known as May Day, frontline organisations in the organised private sector have called on the Federal Government to support the sector with stimulus packages.

The organisations include the Lagos Chamber of Commerce and Industry and the Nigeria Employers Consultative Association.

They said the stimulus packages were necessary to forestall job losses and ensure business continuity even after the coronavirus pandemic.

Also, the Petroleum and Natural Gas Senior Staff Association of Nigeria has called on the government to stop all manner of precarious work in the oil and gas sector ranging from casualisation to outsourcing of jobs.

According to the union, the most precious gift the oil workers require from the Federal Government with respect to the peculiarities of the industry is the complete passage of the Petroleum Industry Bill.

 The representatives of these bodies spoke to our correspondent in separate interviews on Monday.

The Director-General, LCCI, Dr Muda Yusuf, noted that as the workers marked this year’s Workers Day, government should be concerned about business sustainability in the informal sector.

He argued that since the informal sector provided employment to a large number of the citizens, it must not be allowed to go under.

Yusuf advocated stimulus packages such as duty waivers, concessions in the areas of restructuring, refinancing and moratorium, among others.

He said, “What is paramount at a time like this as the workers mark the Workers Day is for government to support the private sector to ensure retention of jobs.

“Economic stimulus should be impactful to avoid the laying off of workers.

“Already, we have seen a few of such palliatives.  But the government and the Central Bank of Nigeria needs to do much more.

 “There are issues around investors’ indebtedness to commercial banks, for instance.  This is in trillions of naira.  There should be some concessions in the area of restructuring, refinancing and moratorium.

- Advertisement -

More articles


Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Africa’s green bond market trails behind other regions

The United Nations predicts that the African continent will be one of the most severely impacted regions in the world by climate change, which...

NGX launches “The Stock Africa is Made Of”

Part of what needs to change in Africa is the narrative the world has about what they think makes up Africa. From business, through...