The President of the Association of Automobile Boatyards Transport Equipment and Allied Employers of Nigeria (AABTEAN), Adekunle Jaiyesimi, has stressed the need for the incoming administration to provide an enabling environment for the growth of business in the country.
Speaking during the association’s 43rd yearly general meeting in Lagos, he identified socio-economic challenges militating against the growth of business in the country.
Among the challenges he mentioned include high inflation, Boko Haram insurgencies, religious and ethnic unrest, infrastructural deficit and continuous weakness of the naira against the dollar.
Other challenges, the AABTEAN chief said include increasing food prices with food inflation; difficulty in sourcing foreign exchange; unemployment and underemployment.
Jaiyesimi, who was re-elected president of the association, listed some of the association’s achievements in 2022 as organising training for members, adding that inactive member companies were visited and would be intensified in 2023.
Speaking further, he noted that the nation’s unemployment rate would continue to remain high as a result of limited investment by the private sector, low industrialisation and slower than required economic growth.
