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74.2% Of Businesses Affected By COVID-19 – NECA

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Ganiyat Ganiyu

The Nigeria Employers’ Consultative Association, NECA, has said that about 74.2 per cent of businesses have been affected by the outbreak of coronavirus disease in the country.

The acting President of NECA, Taiwo Adeniyi, during a briefing over the weekend said that 15.8 per cent of businesses were either fully on site or teleworking.

While commending the Federal Government’s efforts through various stimulus packages to aid small and medium scale enterprises, SMES, NECA lamented that organised businesses were left to weather the challenges of COVID-19.

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Adeniyi said: “With the view of gauging the specific impact of COVID-19 on businesses to aid our advocacy efforts, we conducted a research into the effects of the pandemic on businesses. 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.

‘’Over 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.

‘’The disruption of supply chains resulted in 78.2 per cent of enterprises having supply challenges as suppliers were unable to fulfill orders.”

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