Labour leaders in Nigeria expressed their concerns about the economic challenges faced by workers due to the removal of fuel subsidies and inflation. Speaking at the 28th annual National Management/Industrial Relations Seminar, the leaders noted the significant rise in transportation and food prices, impacting the take-home pay of workers. While acknowledging the government’s efforts to mitigate the effects of fuel subsidy removal, they urged the government to do more to improve workers’ welfare in the current challenging economic situation.
The seminar, themed “Creative and Innovative Strategies To Manage Worker’s Expectations and Reality In a Challenging Economy,” aims to address the complexities of managing worker expectations amid economic difficulties. Labour leaders emphasized the need for strategic thinking and understanding the reality on the ground as workers grapple with dwindling incomes and various economic pressures.
Key challenges outlined by the leaders include fuel subsidy removal, increased electricity tariffs, high inflation affecting the cost of living, inadequate infrastructure, erratic power supply, multiple taxation on companies, and security concerns. They called on political leaders to consider the potential long-term effects of these challenges and take steps to safeguard the country from further economic decline.