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FG Decision To Float Naira Reason For Economic Hardship — TUC - INDEPENDENT
…Demands Police Protection For #EndBadGovernance Protesters
ABUJA – President of the Trade Union Congress (TUC), Comrade Festus Osifo, on Thursday, blamed the Federal Government for floating the naira without giving it a critical thought, lamenting that it is at the core of economic woes being faced by the country.
Osifo said a situation where almost everything imported into the country is paid for in foreign currency leaves the naira at the mercy of the dollar, a development that has mounted so much pressure on the local currency.
Osifo made the assertion while addressing a press conference on the ‘State of Nation’, attributing the prevailing food scarcity on the inability of farmers to go to farms.
According to TUC, government must find a way of addressing challenges associated with food production, especially in Benue and Plateau states which are major staple food zones of the country.
He equally advised government on implementing zero import duty on manufacturing equipment, insisting that because these equipment has the potentials of job creation, industrialists shouldn’t be over burdened with taxes.
According to him, “What is causing the economic challenges is traceable to the floating of the naira, this is the primary issue responsible for the economic challenges. We have identified how it has affected our economy. Because almost everything is imported into this country and you need the dollar components to facilitate the importation.
“We also identified why food is expensive, it is because farmers cannot go to farm, look at Benue or Plateau states, they can’t go to farm.
“We also identified that today if you look at the input that goes into our manufacturing sector through import duties, which is priced in dollars against the naira. We have told government to do everything possible to remove import duty or peg the exchange rate at a particular level”.
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Commenting on the proposed protest and alleged involvement of TUC, Osifo said there was never a time that the union met to discuss a protest over hardship, especially when it had advised government on how to avert the current situation.
He, however, said Nigerians were at liberty to protest because it was their constitutional right and the security personnel must protect them to avoid it from being hijacked by unscrupulous elements.
“We know that the media has been awash with the planned protest. We have several affiliates but we have not called anybody to go on protest but we cannot stop Nigerians from going on protest but whereby the protest goes on we don’t want it to lead to chaos.
“We are calling on the Inspector General of Police to protect those interested in joining the protest. The security outfit in Nigeria must ensure they protect citizens”.
Osifo also delved into the crisis rocking Dangote Refinery and the negative implications for the country”, he said.
According to Osifo, President Bola Tinubu must come into the picture to intervene because the bantering of words between the key stakeholders in the oil sector would repel investors from the country.
He said the bulk stops on Tinubu’s table to end the stalemate and restore confidence in the oil and gas industry.
“As actors in the oil and gas sector and government circles, we feel that Aliko Dangote is one huge investor that has invested in Nigeria and this exchange of words we are hearing in the media is unnecessary. We believe that the president should intervene by bringing everybody together to address the challenges.
“A situation where the actors are castigating each other is going to drive away investors. We cannot be talking of development when we cannot attract investment, we want the president to call the actors together because the bulk stops at the president’s table”, Osifo noted.
