• Business - Economy
  • Updated: May 15, 2024

NECA urges FG to tackle economic crisis urgently

NECA urges FG to tackle economic crisis urgently

Adewale Oyerinde, the Director-General of the Nigeria Employers’ Consultative Association, has stated that the country requires urgent actions to shake off the current economic crisis.

Oyerinde said this while speaking with Punch in Lagos.

The NECA boss said, “When the President came up and said he was removing the fuel subsidy, while it was painful, it was a decision that we have clamoured for 10 years.

“Over 14 years ago, successive administrations were not able to do that and that has brought us to where we are. Nigeria has four refineries moribund, and the government seems to be comfortable with the huge amount spent on subsidies that cannot be accounted for. That is criminal.

“As organised private sector, we have seen that Nigeria has the potential to be one of the biggest economies in the world and successive administrations have tried what they could to navigate us from a perpetual potential nation to a country that is moving on the path of growth and the last administration played its part and we are now in a new administration.”

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