Provide More Incentives To Boost Output For Businesses, UNIDO Urges FG

The United Nations Industrial Development Organization Representative to West Africa, Mr. Jean Bakole has advocated the provision of incentives to promote businesses in the country.

Bakole made the call during the 2022 Nigeria Employer’s Summit in Abuja.

He explained that there is no way Africa can move ahead with development without acceleration of industrialization.

He said, “I think it’s very important that Nigeria being the leading economy in Africa has to put enough importance on the private sector because if you don’t sustain the private sector in your country, you cannot be able to attract investors coming into the country.”

Also Speaking at the event was the President Nigeria Employer’s Consultative Association NECA , Mr Taiyo Adeniyi who called for a national advocacy forum involving the private sector to achieve sustainable economic growth in the country.

Adeniyi stated that the summit focused on promoting enterprise development as a major source of national development.

According to him, “Despite the genuine effort of government to create a favourable business environment, it is disturbing to note however, that the challenges been encountered by businesses are sometimes direct results of the uncertainties in the Nigerian business environment.

“The conversation during these two days summit will be focused on building collaboration and establishing new growth oriented partnerships between organised businesses, government and other critical stakeholders for the ultimate good of our country.”

The Nigerian Minister of Labour and Employment, Mr Chris Ngige while speaking at the event said there has been positive results in the areas of public private partnership by NECA with government institutions.

“A country is deemed as developed, if it can provide qualitative standard of living to our citizens by utilising the different sectors of the economy such as agriculture, industries, ecological management, through information technology.”

“We have the cooperation with Nigerian Social Insurance Trust Fund, we have the cooperation with the Industrial Training Fund for jobs.

“We expect more public private partnership, both with mega affiliate bodies, the companies including multinationals in the individual rights and capacities.

“This will enable and create more opportunities for corporate social responsibility in those companies in tune with the principles contained in the ILO instrument.”