ACCI and experts call on the federal government and workers to put the country’s economy above all else

The Abuja Chamber of Commerce and Industry (ACCI) has called on the government and unions to give top priority to the economic well-being of the country and to endeavour to find an amicable solution to the disputes.

ACCI President Emeka Obegolu, in an interview with journalists in Abuja, reacted to the recent strike by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) and its impact on businesses and the economy.

“ACCI stresses the need for constructive dialogue and negotiations to resolve disputes without strikes,” said Mr Obegolu.

He added: “We call on all stakeholders to communicate openly and effectively to find sustainable solutions that protect our economy and the livelihoods of millions of Nigerians.”

On June 3, the NLC and TUC called on other member unions to go on an indefinite strike to demand a new minimum wage to mitigate the effects of the government’s tough policies.

The ACCI President expressed deep concern about possible strike action, saying it would have a damaging impact on the economy, especially on small businesses.

“We recognise that the impact of strikes goes beyond immediate financial losses; they disrupt supply chains, delay projects and create an uncertain business environment.

“This uncertainty discourages investment and hampers economic growth. We must counteract this,” said Obegolu.

The ACCI president said that small businesses, which are the backbone of our economy, have been particularly affected. He said this has led to severe financial stress and, in some cases, the closure of businesses.

He therefore expressed the Chamber’s willingness to facilitate discussions and provide the necessary support to mitigate the negative impact on small businesses and the economy as a whole.

Analyst Gloria Uke also said that the strikes against the government’s austerity measures and economic policies were having a negative impact on the country’s economy.

Ms Uke said that while workers were demanding higher wages and improved working conditions, companies were grappling with sudden disruptions to their operations and supply chains.

In their opinion, this measure is harmful to businesses and economic growth and should be avoided as far as possible.

Economist Thomas Geoffrey said the impact of the strike was cross-sectoral, seeping into daily life and affecting everything from health care to education.

According to Geoffrey, the strike affected the level of foreign direct investment, increased unemployment, reduced consumer confidence, led to lower spending and stagnation in retail.

“We therefore need to find a balance between our desire for better living conditions and the need for economic stability,” said Geoffrey.

For businessman Ignatius Itodo, strikes are an enemy of progress, saying they bring business to a standstill and lead to poverty and hunger.

Mr Itodo said the country’s hardship and suffering had prompted most of his customers to buy goods on credit instead of paying for them themselves as they used to do.

However, he advocated any measure that would alleviate the suffering of the poor and Nigerian workers.

(NAN)