Members of the organised private sector under the aegis of Nigeria Employers’ Consultative Association (NECA) on Wednesday in Abuja, emphasised the need for regulators to function as business facilitators.
They made the call ont the sideline of the ongoing maiden Employers’ Summit organised by NECA with the theme: “The Private Sector, an Engine Room for National Development”.
In an interview with the News Agency of Nigeria (NAN), they said that government as a business facilitator supports businesses by formulating ‘business friendly’ policies as well as creates institutional apparatus for implementing them.
Dr Abdulrasheed Yerima, the National President, National Association of Small and Medium Enterprises (NASMEs) said there was the need for regulators to operate in a balanced and sustainable way to encourage investments.
According to him, the improved engagement between the organised private sector and the regulatory bodies will facilitate smooth and successful enterprises.
Mrs Odiri Erewa-Meggison, the External Affairs Director, British American Tobacco Nigeria, called for greater collaboration in shaping regulations.
“What we will continue to ask is when any regulation is being harnessed that key stakeholders like the industry players who are going to make impact, who are going to provide these jobs and revenue are carried along.
“We have to come together and shape the regulation that is fit for the country, a regulation that will give the country the revenue that it requires and put the right policy in place,’’ Erewa-Meggison said.
She said that Nigeria needed to have the right sustainable regulatory platforms whereby businesses could thrive.
“You have regulators that are doing quite well being that they are looking at regulation from a balanced and sustainable way, whereby it will encourage investments both current and future ones to come in,’’ she said.
Mr Chigbo Okeke of MacTay Human Resources Consulting firm, identified government policies as important aspect of the economy.
According to him, in this present era, no business can save themselves from the effect of government policies. Hence, there is rarely any segment of business and commerce that is not affected by government policies.
“If the policies are in favour of the businesses, then it will improve the performance of the businesses as well as the economy as a whole.
“More business-friendly policies include tax relief policies for budding businesses, subsidies for special businesses and others,’’ Okeke said.
Mr Victor Achinivi, the Managing Director of VeeCee Energy said, “if we want our regulators to do better, we have to embrace the simple idea that it is not an obstacle to work and they help free markets thrive.’’ (NAN)
