Home Business & Economy NECA renews call for privatization of refineries

NECA renews call for privatization of refineries

Nigeria’s Employers’ Consultative Association (NECA) has renewed appeal to the Federal Government to begin the process of privatizing the nation’s four refineries.
It stressed that the private sector must be empowered to create jobs, in order to check the rising unemployment rate in the country.
NECA’s Director General Segun Oshinowo told newsmen in Lagos that government should kick start another national debate which  would involve all stakeholders in the economy on the removal of subsidy on oil in the face of shrinking oil prices in the international market.
He said: “Our call for the privatization of the refineries is because the refineries which are under-performing can be turned around if privatized thereby creating jobs for Nigerians”
“We believe in privatization; it is the direction to go. We can see the notable outcomes in other sectors of the economy, is gone well with telecommunications, the port reforms have gone pretty well, I think we should deep in and extend it to other sectors of the economy”, he added .
Oshinowo, who insisted that the airports should be privatized, said:  “privitisation is the best way to get a better outcome from the economy of Nigeria”
While condemning the overbearing regulation by some Federal Government agencies, which he accused of indulging in practices that stifle businesses, Oshinowo said “We are worried that some Government agencies like the Consumer Protection Council (CPC) is compelling private investors to bear the costs of its operations, a development the DG described as an aberration in any economy”.
“Why should protecting consumers be at the expense of private enterprise?”  Oshinowo queried
“Over time, the CPC had been demanding manufacturers to re-register products already registered and certified by the National Agency for Food Drugs Administration and Control (NAFDAC) which amounts to duplication of functions”, he said.
“While NECA is not against protecting consumers, the cost of doing so must not be shifted  to private enterprises which are already overburdened by taxes and other levies paid to the government”, he said
On the bill currently with the National Assembly (NASS) which seeks  to put in place, a  policy  for social security net for the vulnerable categories of citizens which requires private enterprises to contribute from their profits to fund the scheme, Oshinowo, however cautioned against passing the bill into Law without wider consultation with the stakeholders including members of the Organized Private Sector and labour.

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