Recession: Stop giving excuses, NLC tells leaders

Organised Labour has advised the political and economic class to embrace a bipartisan and pan-Nigerian approach to tackle the current economic crisis instead of trading blames and giving excuses.

Speaking at an interactive session organised by the Central Bank of Nigeria on Saturday in Owerri, the Imo State capital, a member of the National Executive Council of Nigeria Labour Congress, Issa Aremu, said rising inflation, high interest rates and factory closures needed to be addressed.

 “Nigerians are seriously affected by rising inflation, double digit interest rates, factory closures and general underdevelopment. Nigerians must collectively confront underdevelopment instead of giving excuses and blaming each other,” Aremu said.

According to him, wage increase linked with productivity improvement and prompt payment of the backlog of salaries owed by state and local governments are necessary to reduce the hardship of Nigerians.

Reacting to the views of the past two governors of the CBN, Dr. Charles Soludo   and Alhaji Sanusi Lamido  Sanusi, on the policy thrust of the President Muhammadu Buhari administration, Aremu stated that  the views of the former governors “sounded  too familiar, predictable but unhelpful” for an economy begging for solutions.

The labour leader said Nigeria must replace the “current disjointed policies” with sustainable national development agenda.

He also called for the realignment of Nigeria monetary and fiscal policies to drive sustainable development.