The Director-General of the Nigeria Employers’ Consultative Association, Adewale Oyerinde, has called for caution and social dialogue, as the planned strike action by the National Labour Congress may be counterproductive.
In a statement, he said although the cash crunch had affected businesses, individuals and households, He said, the planned strike by the NLC would further drag the economy into a deeper hole, leading to rapid business closures, job losses and other socio-economic challenges.
According to him, economic experts and analysts have stated that the loss in economic terms could be over N20tn as a result of loss of productive hours in bank halls and petrol stations, shut-down of businesses due to low patronage, the inability of employees to transit to work, challenges faced by households in meeting basic needs and the general distortion in the general supply chain.
The NECA boss said, “While we expressed our deep concern as regards the mismanaged and dreadful implementation of the Naira redesign policy, and in fact, some other policies of the Central Bank of Nigeria.
“While we affirm emphatically our displeasure with the government’s loud silence and seeming inactivity in resolving the self-inflicted quagmire, the planned strike, at this time, could be counter-productive.”
He urged the maximum use of the instrumentality of social dialogue in resolving all issues associated with industrial and social-economic disputes.
He stated that actions of the government and social partners that could compromise the fragile economic state of the country should be avoided.
He added, “We urge the Central Bank of Nigeria and the Federal Government to immediately address the genuine concern of Nigerians in view of the ongoing socio-economic difficulties.”
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