- FEC approves establishment of PCIRR with 10 subcommittees
CEM REPORT, GOVERNANCE | The serial drama between the labour unions and the federal government may gradually be seeing an end as the Federal Executive Council (FEC) has approved a 30-day strategy to implement the Memorandum of Understanding (MoU) between the federal government and National Labour Congress (NLC) and the Trade Union Commission (TUC).
The MoU has received the nod of the FEC and a section has been filed in the court for processing according to the minister of labour and employment, Simon Lalong while briefing pressmen after the FEC meeting in Abuja.
“We presented a memo from the Federal Ministry of Labour and Employment. The memo was basically on the agreement between the government and the labour,
“You are already aware that 15 items are parts of the agreement. But we went beyond mere agreement, we told them that something different is happening because one, part of the agreement is to file it in the court of law which we have set the process already.
“And the other one was the presidential approval. There cannot be any presidential approval more than the Federal Executive Council.
“So we presented them to the Federal Executive Council. We analyzed each and every aspect of the agreement to show the genuineness and also provide for a harmonious and good industrial relationship and that was why it was presented, and it was approved for implementation.
“The council also approved that within these 30 days, we should go with the implementation of the agreement between labour and government.”
Recall that NLC and TUC had declared a strike over the economic challenge faced by its members birthed from the removal of subsidy and the unification of the exchange windows. The strike which was billed to commence on October 3 was put on hold following a summon by the federal government on October 1. The meeting ended with all parties signing a 15-item MoU with a 30-day implementation. This consequently pegged the strike allowing the government a 30-day window to act.
Also, the FEC approved the plan to constitute of a Presidential Council on Industrial Revitalization Roadmap (PCIRR), with appropriate subcommittees to deliberate on various policies within different ministries and the Ministry of Industry, Trade, and Investment.
The council will be chaired by President Bola Tinubu and comprise ten subcommittees with terms of reference to boost job creation, crash unemployment rate and particularly grow the nation’s GDP in line with the administration’s agenda.
The Minister of Trade, Industry, and Investment Doris Uzoka-Anite stated this at the end of the FEC meeting, stated that will be tasked to develop policies that will stimulate industrial growth, with a particular focus on catalysing the growth of small and medium-sized enterprises (SMEs) within the broader industrial landscape.
“We have a plethora of policies, frameworks, and guidelines aimed at reinvigorating industries across these diverse ministries and agencies. We are mandated to collaborate and devise a unified roadmap for each of these subcommittees, all geared towards fostering a comprehensive resurgence of the national economy in accordance with Mr President’s eight-point agenda,” she emphasized.
“After this effort, we anticipate an upsurge in investment across various industrial sectors. We also expect to witness a surge in job creation, bolstering employment figures and an overall improvement in our indices, particularly our GDP growth rates, projected to escalate from 3.5% to an aspirational 7%, with a GDP base of approximately 1 trillion, aligning with Mr President’s vision.
“The impetus behind this initiative is our strategy to stimulate industrial growth, with a particular focus on catalysing the growth of small and medium-sized enterprises (SMEs) within the broader industrial landscape.”
Uzoka-Anite listed the subcommittees to comprise the Subcommittee on Consumer Credit, Commodity Exchange, Heavy Industries and Steel Development, Trade Facilitation and Ease of Doing Business.
Additional subcommittees include those dedicated to Licensing and Certification of Artisans, Trade Facilitation and Realization, Mining and Solid Minerals, Oil and Gas, and Creative Industries.
Uzoka-Anite also noted that the subcommittees related to defence, industries, and pharmaceuticals were not pursued further.
Furthermore, she said that the council approved the formation of a committee tasked with reviewing the Free Trade Zone setup.
This committee’s mission is to “scrutinize the setup, incentives, laws, and reforms of the Free Trade Zones and Special Economic Zones, subsequently proposing reforms designed to stimulate and catalyze the economic advantages of these zones,” she added.