The Federal Government will continue to support the private sector for its important role and contribution to the growth of the economy, Vice-President Yemi Osinbajo has said.
Osinbajo spoke yesterday when he hosted a delegation from the Nigeria Employers’ Consultative Association (NECA), led by its Director General, Mr. Timothy Olawale, at the Presidential Villa, Abuja.
NECA is the nation’s umbrella organisation of employers in the organised private sector (OPS).
The visit to the Villa was meant to consult with private sector employers, especially on socio-economic and labour policy issues.
The Vice-President explained the policy interactions between the Federal Government and the OPS, which he described as essential.
Osinbajo said the Federal Government would keep exploring ways to improve the economy through its policies and reforms.
He said: “Our interaction is a very important one, because it is really part of our policy as a government to ensure private sector participation in the economy. We think that the private sector has a very important role. For us, the private sector is essential to the growth of the economy. So, we must continue to encourage the private sector in every possible way.”
The Vice-President also assured that matters that require government attention would be decisively tackled through the Ease of Doing Business (EDB) initiatives to improve the business environment and ensure growth of local businesses.
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“We want to continuously engage NECA and the private sector because it is central to what we are doing in respect to the economy,” he said.
Hailing the Vice-President for his effective chairmanship of the Presidential Enabling Business Environment Council (PEBEC) and the Ease of Doing Business reforms, Olawale noted that the re-election of President Muhammadu Buhari and the Vice-President was an outcome of their sterling performance in the first term.
The NECA DG said the organisation had actively supported and championed government’s efforts at job creation.
He lauded “the giant strides by the Buhari administration in fostering an environment that is hospitable for businesses to thrive through the Ease of Doing Business initiatives”.
Olawale added: “We specifically recognise the passion with which you (VP) have driven the relationship between government and organised businesses in the past four years through your interventions and leadership that you have provided. These have translated into the activities of PEBEC, the ERGP and the Presidential Quarterly Business Forum, which you preside over.
“We have no doubt that the solid foundation that has been laid in the first four years would be built upon and Nigeria would be better for it.”
Also, Adewale called for quick resolution of all issues delaying the payment of the new National Minimum Wage.
President Muhammadu Buhari signed the new minimum wage on April 18, but a disagreement between labour and government over consequential adjustment of wages has delayed the payment of the new wage.
The NECA chief said both parties should adopt the principle of give-and-take to resolve the matter.
Adewale addressed State House correspondents after the meeting with Prof Osinbajo at the Presidential Villa.
He said: “What we have advised is that in negotiation, the principle of give-and-take is important. They must not be fixated with their position. In other words, you move positions and meet at an agreeable position.
“You can arrive at a win-win situation and that is what we have been urging the two parties, that in the interest of those workers who are very expectant, there is need for both parties to arrive at a conclusion in the first week of September.”
Adewale said almost 80 per cent of organised businesses were already paying higher than the N30,000.00 minimum wage.
He said one the items on the agenda of the meeting between NECA and the Vice-President was “the issue of regulatory bodies that are working at cross purposes”.
Adewale added: “What we are saying is that we may not have access to the Office of the Vice-President every now and then to discuss issues for his attention.
“And while also we do not want to be running to the court to seek relief because of the issue of non-accessibility of some of the chief executives of some these regulatory bodies, we want a situation where there is a clearing desk in the Office of the Vice-President, where we can discuss these issues and they are resolved amicably in the interest of national development and national economy.”
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