The Nigeria Labour Congress(NLC) Tuesday said there is need for the federal government to review of extant fiscal policy regime to drive private sector as the engine room to national development in the country.
NLC President, ,Mr Ayuba Wabba, said this at the ongoing maiden Employers Summit, organised by Nigeria Employers Consultative Association(NECA) on Tuesday in Abuja.
The theme of the summit is “The Private Sector, An Engine Room for National Development”.
Wabba, represented by Najeem Yasin, NLC Deputy President said the review of the fisical policies was imperative as
According to him, the choice of the theme is very apt and instructive, especially at a time like this when the capacity of the private sector to serve as the engine for economic growth.
“That is in job creation and national development, is being undermined by a number of factors.
“These factors include very hostile fiscal policy environment particularly multiple taxations, high interest rates, extreme volatility of the exchange rate, infrastructure deficits and the intolerable level of insecurity in the country, ’’he said.
He noted that all over the world, the private sector had proved to be a veritable partner with government and the working class in value addition and wealth creation. Nigerian cannot be different.
He added that for the private sector in Nigeria to be adequately enabled to play her part in engendering economic growth, there should be creation of decent jobs and fostering sustainable national development, Wabba added that, it is important that we remind government that it must play its own part of creating the enabling environment for production to happen and development to occur.
He said the congress had always made the point that there would never be any meaningful national development unless government addresses the infrastructural gaps in the country.
According to him, is the particular concern of the near comatose of our public electricity supply.
He noted that Nigerians were still paying heavily for megawatts of darkness.
Wabba added that the private sector cannot wait endlessly for affordable and sustainable public electricity supply.
He said it was government business was to ensure that Nigeria generates enough electricity, to provide the private sector and citizens with tools needed for innovation, production, entrepreneurship and value addition for national development.
He therefore, called on government fix other sore points in the public infrastructure including expansion of the rail network, rehabilitation of roads, others and the development of robust inland waterways.
According to him, there is also the need to review the extant hostile fiscal policy regime especially with respect to high taxation, unstable concessions, and volatile exchange rate.
He also added that there was need to bring back the textile mills in Bompai Kano, Kakuri Kaduna and factories on Oshodi-Apapa Industrial axis.
He further said there was also a need for the government to bring back the multinational manufacturing firms in Trans-Amadi Port Harcourt, Aba and Onitsha.
“We just have to get Nigerians back to work,’’he added.
(NAN)
