- As economic hardship persists, the federal government led by President Bola Tinubu has been given fresh tasks
- The organised labour lamented bitterly over the job security of its members and urged the government to tackle it without delay
- This is amid the ongoing talks between states, the federal government and labour, for the full implementation of the newly approved N70,000 minimum wage
Tinubu gets demand from labour as economic crisis persists.
Photo credit: Nigeria Labour Congress HQ, Asiwaju Bola Ahmed TinubuSource: FacebookManufacturers are lamenting daily due to high cost of production as a result of high interest rate and high electricity bill, while petroleum products that are supposed to be for alternative power generation, are equally very expensive.The volume of exports and imports determines economic growth. Where import is greater than export as we experience in Nigeria, it weakens the local currency, causes inflation, man-power turnover, hunger and poverty which may likely trigger social unrest such as the recent #endbadgovernance protest.Workers on daily basis suffer from job losses due to redundancy, closure and relocation of factories. Majority of them work under precarious conditions with poor salary and no incentives or motivation. The present inflation rate and exchange rate are having negative effects on real value of naira. It may interest you to know that the dollar equivalent of the recently signed minimum wage of N70,000 is far below when it was N18,000.Read more about labour and economic hardship:
- NLC, TUC ask govt to step down issue of minimum wage
- “This is unbearable,” Sanusi decries spate of economic hardship in Nigeria
- Economic hardship: Tinubu reveals actual month Nigerias suffering will end
Minimum wage: Delta NLC awaits FG’s template
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