By Aina Rebecca (SIWES Student, OGITECH)
The Nigeria Employers’ Consultative Association (NECA) has issued a warning, stating that the nation’s economic outlook will remain grim for the next six months. Despite this, NECA, representing employers in the country, expresses optimism that signs of growth will emerge afterward, emphasizing the need for the government to effectively implement ongoing reforms.
Speaking with Vanguard, NECA’s Director-General, Adewale-Smart Oyerinde, characterizes 2023 as a particularly challenging year for businesses. He attributes these challenges to factors such as the removal of petrol subsidies and foreign exchange harmonization.
Oyerinde highlights the impact of both external factors, such as COVID-19, and internal challenges, including policy inconsistency and regulatory interference, making 2023 a tumultuous period for organized businesses in Nigeria.
