In an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja, Mr. Smatt Oyerinde, the Director-General of NECA, lauded the collaborative efforts that have prevented what could have been a disruptive nationwide strike scheduled by the organised labour on 3rd of October.

This strike was intended to press their demands concerning the adverse effects of the subsidy removal, which has inflicted considerable hardship on the populace.

According to Oyerinde, "We commend the resolution of the logjam. This vindicated our consistent position that social dialogue remains the most veritable way to resolve any issue.

“It is important to state that while the unnecessary disruption of economic activities has been averted.

"There is a need for the government to live up to its commitment and fulfill the terms of the resolution and for labor to also ensure improved productivity to get the wheel of production going," he said.

He further advised the Federal Government to ensure it lives up to its promises to workers and the citizens at large to avoid an outbreak of further industrial action.

The NECA DG said that the effects of a strike on private sector businesses were unimaginable.

He noted that private sector businesses were going through a lot to stay afloat, and this was not what the government should allow to happen.

“Anything that would compromise our ability to continue to pay salaries, I think it should be taken into consideration if you compromise the ability of the business to meet its obligations to its creditors.

"Imagine a business that has borrowed from the banks in naira or dollars; when we go on strike, payment of interest does not go on strike, or payment of tax to the government.

“Workers will also expect to be paid salaries during the period. A strike is not for us as it would further cripple businesses.

Oyerinde, however, commended President Bola Tinubu’s commitment to fix the economy and alleviate the suffering of Nigerians and organized businesses.