The Nigeria Employers’ Consultative Association, NECA, has challenged state governments in the country to justify the increased statutory allocations and make life better in their jurisdictions.
The Director General of NECA, Mr. Adewale-Smart Oyerinde, who made the points during an end of the year media conference in Lagos noted that the removal of fuel subsidy led to the significant increase questioning why these increased funds have not resulted in visible infrastructure development.
He urged the media and the public to hold state governors accountable for the utilization of the resources, insisting that the real benefits of subsidy removal should be evident at the state level.
Mr Oyerinde also advised government at all levels to ensure that policies are deliberately aligned with the core objective of growing the economy, stressing that the private sector remains the engine room for job creation, productivity and national development.
He emphasized the need for stronger synergy between policy formulation and implementation to deliver real economic benefits to Nigerians.
The NECA boss who acknowledged recent signs of macroeconomic stability that included relative steadiness of the naira, growth in external reserves, expressed optimism that by 2026, these indicators would translate into improved microeconomic conditions for businesses and ordinary citizens.
On the new tax legislation, Mr. Oyerinde strongly defended the reforms, describing them as the most extensively consulted policy initiative he had witnessed, admitting that the process had generated controversy and still contained imperfections, he maintained that the reforms must move forward, noting that outstanding issues can be amended along the way.
According to Oyerinde, the organized private sector supports the objective of harmonizing multiple taxes and levies to create a more efficient and business-friendly tax system, cautioning against retaining outdated systems which he said hindered competitiveness and economic growth.
The NECA DG who criticized the ban on sachet alcoholic drinks argued that the ban failed to consider the scale of investment losses, potential job cuts and unintended consequences such as smuggling and artificial scarcity citing it as an example of poorly designed policy implementation.
He called on regulatory agencies to adopt more innovative and balanced approaches rather than outright bans that disrupt entire value chains.
Mr. Oyerinde who said NECA currently enjoyed a relatively cordial relationship with organized labour, noting shared positions between them on decent work standards and the implementation of the new minimum wage.
He disclosed that discussions were already ongoing in preparation for the next wage negotiation cycle scheduled for 2027, adding that NECA’s main concern remained adherence to established legal and institutional frameworks for dispute resolution.
He commended the media for a collective role in promoting evidence-based advocacy and appealed for continued collaboration, describing 2026 as a critical year for consolidating Nigeria’s economic recovery and strengthening the private sector’s contribution to national development.
Reporting by Korede Ogunbunmi