THE world is changing rapidly and if Nigeria intends to catch up with the rest of it, she needs to embrace the concept of night time economy. If, as the saying goes, “Time is money”, a lot of money is being frittered away by the poor use of the night 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 youths can be incorporated into the formal sector of the economy by creating flexible working hours, they can go to school and work at their own pace, holding down part-time jobs. Several countries such as the United States of America, Singapore, Netherlands, and United Arab Emirates have established night time economics.

In the USA, 40 per cent 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 her 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 1.3 million people in the year in the night time economy which is worth £66 million. The Dutch capital, Amsterdam, deems the night economy so critical that it has a night time Mayor, who oversees the activities of the city at night.

There is need for collaboration between the government, the private sector, labour unions to enact laws to regulate the sector and to have extensive consultations with local business owners.

The night time economy enables consumers and businesses to trade and interact all time of the day, thereby boosting manufacturing, service, media, creative and technological industries. It also creates additional revenue for local governments. Local councils 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. Indeed, they are also able to work on weekends.

Legislators need to enact labour-friendly laws and establish a minimum hourly wage, establish the legal framework to enable shops to open at night. The law is expected to delineate the roles of regulators and the business owners.

Governments at all levels have grappled unsuccessfully to provide CCTU in the cities. Laws need to be put in place that mandate all business premises to have closed circuit cameras installed to protect themselves and their customers.

Equipping law enforcement agencies to provide adequate security is a 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 which will enable people move around conveniently across the city. A night time economy is beneficial to employees: they are able to make extra income which translates to increased spending and buying power, driving the economy.

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

Manufacturers also benefit because less strain is put on electricity grid at night.

A night time economy is also beneficial to consumers because it facilitates opportunity for a wide variety of shopping options and cuts down on shopping times especially with reduced vehicular and pedestrian traffic.

Councils can also benefit by implementing laws that promote refuse waste collecting services, thus keeping street cleaners busy at night. Low-income earners who engage in night time work usually benefit from tax waivers.

Night trade boosts the revenue of local councils through increased levies on businesses such as restaurants, bars, theatres, amusement parks, museums, shopping malls. In summary, night time economy is a source of employment and additional revenue for local governments, allows local governments to diversify its leisure and commercial activities, promotes greater citizen security,
boosts local tourism, and creates a greater sense of belonging.

Admittedly the night time economy does pose its own risks such as anti-social behaviour, crime, alcohol-related violence, noise and litter. However, these can be mitigated with appropriate, strict laws and their enforcement. It is important that research is carried out by policy makers in areas of the cities and other conducive places that may be marked out for pilot schemes.