Business leaders from various sectors of the economy have proffered strategic measures to cushion effects of fuel subsidy removal on businesses and other organisations.

The business leaders proffered the solutions at a roundtable with the theme: ‘Economic Reform Agenda: Implication for Businesses and Strategic Response for Survival,’ organised by the Business Club Ikeja (BCI) at Alausa, Ikeja, Lagos.

The leaders examined the economic reform agenda of the Federal Government and suggested temporary adjustments.A seasoned scholar and Executive Secretary at the Institute of Entrepreneurs, Dr. Rotimi Oladele, who spoke at the event, urged Nigerians to join the government in positive policy marketing.

Oladele said to make the economy better, Nigerians need to make individual business strategies to tackle the situation, adding that until individuals see the Nigerian economy as their own, the country will not go anywhere.

The Executive Secretary, who commended the Federal Government over the fuel subsidy removal, urged the citizens to support the government by analysing their policies, taking out positive decisions and steps, as well as marketing them to others.

Noting that the business leaders will monitor to ensure that the government is following what it promised the citizens, Oladele said: “with that, we can be focused towards development.”

He tasked Nigerians to partner with the government to analyse its policies, determine how they affect citizens, as well as how they can benefit from it.

Oladele also urged Nigerians to be patient with the Bola Ahmed Tinubu-led administration on the removal of fuel subsidy, saying that it was well intended for the citizens.

At the roundtable moderated by Director, Commonwealth Institute of Advanced and Professional Studies (CIAPS), Prof. Anthony Kila, a corporate law expert, Dr. Adesola Falaiye, who spoke on ‘Removal of subsidy and its impact on business’, enjoined business men and women, as part of solutions to the subsidy removal, to adopt alternative measures to energy while doing business.

Falaiye, who is the Managing Director and Chief Executive Officer, Afkar Printing and Publishing Company, urged business owners to improvise in all they do so as not to feel the subsidy removal impact saying, “If your operation allows solar alternatives like inverter, you can adopt it.”

He advised Nigerians to manage their logistics to save money and time, noting that, “most meetings can be done through zoom. Embrace use of all-encompassing technology and collaborate with others to make bulk purchases in order to save money.”

Speaking on ‘Zero Cost Intervention’, a human resources expert and Director, Human Capital Management, PKF Professional Services, Nkeiruka Nnamdi, said business owners should be open, empathic with their workers, and let them have a feel of what the business is going through.

Former Chairman, Vitafoam Plc, Dr. Dele Makanjuola, told business leaders to study and emulate Asian and other expatriates who are still making profits regardless of the harsh economy.

President, Business Club Ikeja (BCI), Chief Tajudeen Akande, said the economic roundtable is part of efforts by the BCI to bring business leaders together, develop relationships, share opportunities and find solutions to issues affecting all Nigerians.