NECA Disappointed with October 1 Broadcast, Sees Little to Celebrate - The Top Society

NECA Disappointed with October 1 Broadcast, Sees Little to Celebrate


The Nigeria Employers’ Consultative Association (NECA) has called on the Federal Government to provide clearer details and expedite the implementation of the announced relief measures, saying there is little to cheer in President Tinubu’s independence speech.

While reacting to the President’s Independence address, The Director-General of NECA, Oyerinde Adewale-Smatt, commended the President’s commitment to economic recovery and aid for Nigerians but stressed the need for more comprehensive interventions with specific timelines.

Adewale-Smatt noted that the President’s speech lacked precise schedules for executing the proposed plans.

“While we commend the President’s commitment to fix the economy and alleviate the suffering of Nigerians and organized businesses, more definitive, broader interventions with timelines for implementation will also be very important. The President’s address was full of intent, without definitive timelines for implementation of the laudable plans,” Adewale-Smatt noted.

He highlighted the commendable aspects of the speech, such as the announced N25,000 wage adjustment for certain public servants, the provision of CNG buses, and an expanded social safety net covering 15 million households. However, he pointed out that the wage increase did not account for the impact of fuel subsidy removal on all Nigerians and businesses, emphasizing the need for broader support.


Oyerinde expected a more definite timeline for procuring and deploying the CNG buses, especially since they were mentioned in the President’s previous address. He urged accelerated procurement to ease transportation challenges.

“While the announced N25,000 wage adjustment for a section of the public servants; provision of CNG buses and further increase of the social safety nets investments to cover another 15 million households are commendable, the wage award doesn’t take into cognizance the fact that all Nigerians, including organized businesses are affected by the fuel subsidy removal and also need some measure of support. Having mentioned the procurement of the CNG buses in his August address to the Nation, we had expected a more definitive and time-bound pronouncement on when the buses will be procured and put to use. It is important that the procurement should be accelerated to aid the populace and reduce transportation pressures.”

Furthermore, NECA stressed the importance of extensive consultations and engagement with the private sector. While acknowledging the government’s efforts to address challenges faced by the population, NECA called for concrete actions with realistic timelines to revitalize the economy, recognizing the vital role of the organized private sector in national development.

“The need for wider consultation and private sector engagement cannot be over-emphasized. While the Government continues to roll out its plans to ameliorate the challenges on the populace, more definite efforts with realistic timelines should be made to revive the economy and the organized private sector being the engine of national development. It is not enough for the Federal Government to dole out money in the name of palliatives to State Governments, more innovative, effective, and trackable distribution and monitoring mechanisms should also be put in place to measure the impact and efficiency of the implemented schemes.”

NECA also emphasized the necessity for innovative, efficient, and trackable distribution and monitoring mechanisms for any implemented schemes, rather than merely providing funds to state governments in the name of palliatives.

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