NECA, the umbrella body for the Organised Private Sector (OPS), said government must be decisive and focused on well-articulated and comprehensive stimulus packages in order to avert job losses and other adverse effects of COVID-19 pandemic.
Speaking with The Nation, Director General, Nigeria Employers’ Consultative Association (NECA), Mr Timothy Olawale said the association expects government to engage social partners and strategise on measures to prevent impending job losses during and after COVID-19.
According to him, such measures could include government’s direct intervention on direct wage or income support, wage subsidies, tax credits or tax deferrals, short-term work schemes and moratoriums on loan payments by organisations.
He added that other measures should include regular and adequate power and electricity supply , access to loans and funds for their business operations, security of lives and properties , creation of an enabling environment for businesses to thrive and tax incentives.
“Thus, NECA would appreciate all necessary assistance and support from government towards the growth and survival of businesses in the country, especially in the informal sector.
This sector has the largest number of entrepreneurs who create employments for Nigerians, aid the operations of the formal sector through the various value chains and ensure that youths are engaged and not involve in crime or social vices,” Olawale said.
He said if businesses fail to survive the effect of COVID-19 within the shortest period, it could result in massive job loss in the country, urging government to consider a more coordinated strategy in salvaging jobs and enterprises.