DRIVING THE NIGHT TIME ECONOMY (PT 1)

The world is changing rapidly and if Nigeria intends to catch up with the rest of the world, it needs to embrace the concept of night time economy. If as saying goes “Time is money”, a lot of money in been frittered away by the poor use of the night time hours.

 It beats my imagination that Governments at the Federal, State and Local levels have not considered labour policies that promote shift work and hourly pay for workers. At a time when the falling price of crude oil, the country’s mainstay is dwindling, it is important that Government considers alternative methods to boost economic growth by making use of idle resources in the night time.

The vast army of unemployed youth can be incorporated into the formal sector of the economy by creating flexible working hours, they can school and work at their own pace holding down part time jobs. Several countries like the United State of America, Singapore, Netherlands, and United Arabs Emirates have established night time economics.

In the USA, 40% of the American population is reported to work at night, weekends and rotating shifts.

In the United Arab Emirates, the night economy has contributed immensely to its economic growth, by extending shopping hours in its mega malls, and providing a wide array of leisure activities, fashion, jewelry, health, beauty and electronics, making Dubai a renowned tourist haven.

The United Kingdom employs 1.3Million people in year in the night time economy it is also worth £66Million. The Dutch Capital Amsterdam deems the night time economy so critically that it has its own night time Mayor, who oversees the activities of the city at night.

There is a need for collaboration between the Government, the private sector, labor unions into enact enabling, laws to regulate the sector and extensive consultations with local business owners.

The night time economy enables consumers and businesses to trade and interact at all times of the day thereby boosting the service, media, manufacturing, creative and tech industries. It also creates additional revenue for the local Government Councils were they are able to introduce new forms of leisure and commercial activities.

 Shift work has also been found to increase economic productivity, the flexibility enables workers to engage in multiple forms of employment whilst been able to also work on weekends.    

The legislators need to enact labor friendly laws and establish a minimum hourly wage, establish the legal framework to enable shops to open at night hours, delineating the roles of regulators and the business owners.

 Governments across board have grappled unsuccessfully to provide CCTU around the cities. Laws need to be put in place that mandate all business premises to have closed circuit cameras installed to protect them selves and their customers.

The equipping of the law enforcement agencies to provide adequate security in also very critical component of a night time economy, the police need to be properly kitted with security and high tech gadgets for rapid response to nip crime in the bud.

Another vital element of night time economy is a functional and efficient bus mass transit as well as light rail networks that would enable people to move around conveniently across the city. 

The night time economy in beneficial to the employees as they are able to make extra income this translates to increased spending, driving the economy.

Women are able to operate flexible working hours, tailoring their schedules to fit their family requirements, thereby reducing family tensions and social disharmony.

Manufacturers also benefit by putting less strain on the electricity grid at night.
A night time economy is also beneficial to consumers as it enables them to have ease to a wide variety of shopping options, also cutting down on shopping times due to less vehicular and pedestrian traffic
Councils can also benefit by implementing laws that promote refuse waste collecting services at night as well as making street cleaners perform their responsibilities at night. Also giving low income earners who engage in night time work tax waivers.
Council can also benefit by increased levies on businesses which operate at night like restaurants, bars, theaters, amusement parks, museums, shopping malls  

• The night-time economy is a source of employment and additional revenue for local governments
• It allows local governments to diversify its leisure and commercial activities.

• It promotes greater citizen security

• It boosts local tourism.
• Creates a greater sense of belonging.

Admittedly the night time economy does pose some risks such as anti social behavior, crime, alcohol related violence, noise and litter but these can be mitigated by proper promulgation of strict laws and enforcement of these laws. It is important that research is carried out by policy makers in key areas of the cities and certain areas delineated for pilot schemes.