The Nigerian Association of Chamber of Commerce Industry Mines and Agriculture (NACCIMA) has expressed readiness to work with government towards mitigating economic challenges in the country.
President of NACCIMA, John Udeagbala, in his New Year message stressed the need for government to partner with the private sector in formulation of policies that will enhance ease of doing business and bring possible solutions to the economic challenges facing the country.
Reflecting on the year 2022, Udeagbala noted that it was laden with significant economic complications – “a post-covid year with the lingering Russia-Ukraine war that has added to the spiraling global inflation.”
“In Nigeria the year witnessed unprecedented high cost of energy, general rise in cost of doing business, astronomical rise in prices of goods and services, rise in government debts with a tepid growth in GDP and high interest rates (resulting from MPC rate adjustments).
“The private sector experienced a harsh economic environment which has negatively impacted many businesses and led to a situation where a lot of businesses are struggling to survive.” He stated.
The NACCIMA president further said the situation has given rise to persistent inflation, high unemployment rate while wage levels have remained stagnant or declining in real terms, due to the weakening Naira.
In his words, “Despite all the above we must continue to weather through the Nigerian economic stormy clouds through advocacy for policies that will enhance ease of doing business.
“The New Year 2023 opens a window for government to appropriately review and jettison policies that have suffocated viable business establishments and have had drawbacks on well-established private companies that are presently struggling.” He noted
Udeagbala urged Nigerians to perform their civic responsibility peacefully by going out on election days to vote according to their conscience and ensure that their votes count.
“The year 2023 is electioneering year to choose our political leaders that will steer the ship of Nigeria for another four years.
“I therefore, urge you to make sure you perform your civic responsibility peacefully by going out on election days to vote according to your conscience and ensure that your vote counts.”
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