Nigerian businesses resilient inspite bottlenecks – OPSN Chair

The President , Nigeria Employers’ Summit and Chairman, Organised Private Sector of Nigeria (OPSN), Mr Taiwo Adeniyi, has observed that inspite bottlenecks in actualizing national business plan, organised businesses have demonstrated resilience and uncommon doggedness in keeping the wheel of production running.

Adeniyi while speaking at the ongoing 2022 Nigeria Employers’ Summit in Abuja on Monday with theme : “The private sector as engine for National Development”, highlighted that these bottlenecks range from policy inconsistency, over-bearing regulatory framework, multiplicity of taxation, inadequate infrastructure, and insecurity just to mention a few.

He further said despite geniue efforts by the government to create a favourable business environment, it is disturbing to note however, that the challenges being encountered by businesses are sometimes direct result of the uncertainties in the Nigerian business environment.

He said the galloping inflationary trend and massive job losses among others, expectedly, these challenges has had huge adverse impact on nations of the world , including Nigeria.

He also said there is need to establish a credible national platform on which nexus between a healthy private sector and sustained national inclusive growth will be predicated.

In a paper presentation on “The empowerment of young generation using the enablement of skills”, the Director General/ Chief Executive , Industrial Training Fund (ITF), Sir Joseph Ari, said enabling skills is very important so that the younger generation can transform and translate their skills to actionable reality interms of development.

He expressed concern that the country is sitting on a timebomb if nothing is done with the population interms of what to do in other to move the country’s economy forward.

He said if by 2050 when the population hits 500million , the country might be in trouble if we have nothing to do the younger generation in creating employment.

“If we are able to put in use these population, we should be able to explore manpower and human capital to the rest of the world and earn recorded investments,” he said.

Also, the International Labour Organization (ILO) assured continued promotion and support as a main avenue to design job-rich private sector reforms in Nigeria .

The Director of the ILO country office for Nigeria , Ghana, Liberia and Sierra Leone, Miss Vanessa Phala said ILO also aim to contribute to and catalyse social and economic transformation as well as attract investments in specific sectors that have the potential to create new opportunities for the Nigerian youth.

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