{"id":22697,"date":"2020-06-26T14:03:17","date_gmt":"2020-06-26T14:03:17","guid":{"rendered":"http:\/\/watchdogplusmedia.com\/?p=22697"},"modified":"2020-06-26T14:03:28","modified_gmt":"2020-06-26T14:03:28","slug":"covid-19-hindered-operations-of-74-of-businesses-in-nigeria-neca","status":"publish","type":"post","link":"https:\/\/watchdogplusmedia.com\/?p=22697","title":{"rendered":"COVID-19 hindered operations of 74% of businesses in Nigeria \u2014NECA"},"content":{"rendered":"\n
\"Nigeria\u2019s<\/figure>\n\n\n\n

The coronavirus outbreak hindered the running of around 74.2% of Nigerian businesses, the Nigeria Employers\u2019 Consultative Association (NECA) has said.<\/p>\n\n\n\n

Taiwo Adeniyi, NECA\u2019s acting President, made the observation at a press briefing held Thursday to announce the outcome of a survey carried out by the association to measure the effects of the COVID-19<\/a> pandemic on businesses.<\/p>\n\n\n\n

\u201cThe outcome of the research showed, among others, that 74.2 per cent of surveyed enterprises have stopped operating due to COVID-19, while 15.8 per cent are either fully on-site or teleworking.<\/p>\n\n\n\n

\u201cOver 90 per cent of surveyed enterprises noted that limited cash flow was an impediment to operations and over 90 per cent stated that demand for their goods and services had significantly reduced,\u201d he said.<\/p>\n\n\n\n

The survey revealed that 78.2% of enterprises faced supply challenges as supply were unable to fulfil orders.<\/p>\n\n\n\n

Mr Adeniyi lauded the government for steps taken to contain the virus\u2019 spread and for coming up with fiscal and monetary measures aimed at lessening the pandemic\u2019s impact on businesses.<\/p>\n\n\n\n

He observed that the job retention programme proposed by NECA should have been accorded due consideration in order to curb the growing unemployment rate during the period of the pandemic.<\/p>\n\n\n\n

The NECA boss enjoined the Nigerian government to consider a long-term strategic support for organised businesses that will enhance a sustained economic recovery.<\/p>\n\n\n\n

Similarly, the association recommended the passage of a bill that would address the gaps in the oil and gas sector.<\/p>\n\n\n\n

\u201cPrivatisation of the existing three refineries would further free the economy of billions of naira spent on annual turn around maintenance of a facility that could not run up to 30 per cent capacity and generating less than 15 per cent of its expected revenue annually,\u201d Adeniyi said.<\/p>\n\n\n\n

He stressed the significance of implementing the Oronsaye Report as well as the institutionalisation of operational efficiency and cutting down of expenditure in the long term.<\/p>\n\n\n\n

\u201cCongestion due to poor port and associated transport infrastructure created losses of N3.5trn last year at Nigeria\u2019s maritime logistic hubs, according to a March 2019 report by a research group, African Centre for Supply Chain.<\/p>\n\n\n\n

\u201cThese losses are set to increase as the population expands and economic growth continues,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The coronavirus outbreak hindered the running of around 74.2% of Nigerian businesses, the Nigeria Employers\u2019 Consultative Association (NECA) has said. Taiwo Adeniyi, NECA\u2019s acting President, made the observation at a press briefing held Thursday to announce the outcome of a survey carried out by the association to measure the effects of the COVID-19 pandemic on businesses. \u201cThe […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_mi_skip_tracking":false},"categories":[4],"tags":[],"yoast_head":"\nCOVID-19 hindered operations of 74% of businesses in Nigeria \u2014NECA » WatchDog Plus Media<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/watchdogplusmedia.com\/?p=22697\" \/>\n<meta name=\"author\" content=\"Odofin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/watchdogplusmedia.com\/?p=22697#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/watchdogplusmedia.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/watchdogplusmedia.com\/?cat=4\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"COVID-19 hindered operations of 74% of businesses in Nigeria \u2014NECA\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"COVID-19 hindered operations of 74% of businesses in Nigeria \u2014NECA » WatchDog Plus Media","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/watchdogplusmedia.com\/?p=22697","author":"Odofin","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/watchdogplusmedia.com\/?p=22697#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/watchdogplusmedia.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/watchdogplusmedia.com\/?cat=4"},{"@type":"ListItem","position":3,"name":"COVID-19 hindered operations of 74% of businesses in Nigeria \u2014NECA"}]}]}},"rttpg_featured_image_url":null,"rttpg_author":{"display_name":"Odofin","author_link":"https:\/\/watchdogplusmedia.com\/?author=2"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/watchdogplusmedia.com\/?cat=4\" rel=\"category\">Business<\/a>","rttpg_excerpt":"The coronavirus outbreak hindered the running of around 74.2% of Nigerian businesses, the Nigeria Employers\u2019 Consultative Association (NECA) has said. Taiwo Adeniyi, NECA\u2019s acting President, made the observation at a press briefing held Thursday to announce the outcome of a survey carried out by the association to measure the effects of the COVID-19 pandemic on businesses. \u201cThe…","_links":{"self":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/22697"}],"collection":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22697"}],"version-history":[{"count":-4,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/22697\/revisions"}],"wp:attachment":[{"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/watchdogplusmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}