New Telegraph

NLC: We’ll shut down banks, aviation, others

  • LCCI backs subsidy removal

 

Organised labour, yesterday, said that all sectors, including aviation, banks and others would be shut as workers take to the streets in protest against recent developments in the economy.

 

Addressing the media in Lagos, Deputy Vice President, Nigeria Labour Congress (NLC), Mr. Amaechi Asogwuni, said no airport would be in operation in Nigeria, adding that banks would also not function. He advised that no business owner should risk himself as Nigerian workers have taken that decision.

 

This is coming just as the Lagos Chamber of Commerce and Industry (LCCI) has thrown its weight behind Federal Government’s decision to put a halt to subsidy payment.

 

According to Asogwuni, “We are the workers and we are withdrawing our services; we have the right to do so because protests are our constitutional rights. “And I believe we will enforce it; schools shall remain closed until this action ends,” he said. Asogwuni called on Nigerians to join the protest, saying it was part of their quota to democracy.

 

“We must ensure that all sectors remained shut as a voice to the government to respond to the cry of Nigerians. “On the issue of PMS, what was expected of government was to engage its socio-partners which include labour as a stakeholder.

 

“The government did not do that at a time it ought to; it failed in its duty to engage labour before time. “On the issue of electricity, government had  earlier had an interaction with labour in Kano and we discouraged it from proceeding. “It was a big shock that it still went ahead to dare Nigerians; people depend on power and you cannot wake up overnight and strengthen suffering. “We resist it and call on Nigerians to join, because in democracy, it is our voice that makes the difference,” he said.

 

Meanwhile, LCCI has said that a reversal of the current reforms on subsidy of Premium Motor Spirit (PMS) will exacerbate the challenges of the already faltering Nigerian economy. Muda Yusuf, Director- General of LCCI, made the assertion in a statement to newsmen yesterday in Lagos. Yusuf said the current reality was that the fiscal space to sustain the humongous, corruption prone and opaque subsidies no longer existed.

 

He said it was not in the best interest of the citizens, the economy and future generations to encourage the perpetuation of corruption ridden subsidy regimes. He noted with concern the proposal by the NLC and the Trade Union Congress (TUC) to proceed on strike from September 28 due to the removal of subsidy on PMS.

 

“The LCCI appreciates the perspective of the labour unions with regards to the pains and hardship that the recent hikes in petrol price and electricity tariff will inflict on the citizens.

 

“But the chamber also recognises that the government is faced with very difficult choices at this time. “The Nigerian economy is currently stumbling, having suffered a significant contraction of 6.1 per cent in the second quarter of this year. “The economy is yet to     recover from the devastating shocks wreaked by COVID-19 and now on the verge of a recession. “As a result, the economy needs to be urgently pulled back from the brink through the adoption of appropriate policy reform measures,” he said.

 

Yusuf added that the capacity to fund critical economic and social infrastructures had waned considerably. He referred to the mounting public debt with an increase of 146 per cent which had grown from N12.6 trillion in December 2015 to N31 trillion as at June 2020.

 

“Nigeria became an oil producing country over six decades ago, yet there are no significant private sector investments in practically the entire value chain of the downstream petroleum sector. “The entire space has been dominated by public enterprises with the attendant inefficiencies and fiscal leakages which had    done enormous damage to the Nigerian economy.

 

“The economy had been denied the benefits of the vast investment opportunities which the oil and gas sector offers. “If the country continues with the current trend of monstrous and opaque subsidies, it could slip into bankruptcy,” she said.

 

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