The two apex labour centres, the Nigeria Labour Congress and Trade Union Congress on Wednesday, said it acknowledged the federal government's recognition of the mistake in floating the Naira, leading to significant devaluation and inflation.
The two apex labour centres, the Nigeria Labour Congress and Trade Union Congress on Wednesday, said it acknowledged the federal government's recognition of the mistake in floating the Naira , leading to significant devaluation and inflation. NLC President, Joe Ajaero, however, argued that borrowing foreign currency to support the Naira was a short-sighted solution that may worsen the country's economic situation.
On the energy crisis currently plaguing the country, the two labour centres decried what they termed as an uninspiring approach to managing our energy resources, warning that it spells doom for any nation. They stated that the country is being crippled by this very incompetence and selfishness, leaving citizens and the economy vulnerable. Labour also insisted that power, regardless of its origin, fuels economic growth. Oil and Gas are lifelines for energy success worldwide.
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