Nigeria's Regulatory Environment Hurting Businesses

Adewale-Smatt Oyerinde, a representative of the Nigeria Employers Consult Association, addressed the challenges facing Nigeria's regulatory environment, which he claims is harming businesses. He discussed the upcoming nationwide protests planned for May 2026 due to the non-implementation of the N70,000 minimum wage in states like Adamawa, Zamfara, and Imo.

Oyerinde emphasized the growing strain within the industrial relations system, which is based on a tripartite framework involving the government, employers, and labor organizations. He noted that inflation at 33.2% as of March 2026 is pressuring workers and contributing to increased industrial conflicts, which disrupt productivity and escalate operational risks.

The economic forecast for Nigeria in 2026 has been downgraded to 4.1%, reflecting weakened performance. Oyerinde called for clarity in legal definitions of essential services to reduce disputes and enhance the credibility of the industrial relations system, advocating for institutional reforms to restore order and promote industrial harmony.