INSTANT NEWS

The Nigerian Labour Congress (NLC) has vehemently opposed the proposed privatization of the Transmission Company of Nigeria (TCN), expressing concerns over the potential negative impact on the socio-economic conditions of Nigerians. The rejection comes in response to the Federal Government's recent announcement regarding the sale of the state-owned company.

President of NLC, Joe Ajaero, emphasized the perilous consequences the planned privatization could have on the power sector, instilling significant fear and apprehension among major stakeholders. Ajaero highlighted the dangers involved and cautioned that this move could adversely affect the state's ability to control, regulate, and ensure the safety of the nation's grid system at all times.

In light of these concerns, NLC issued a call to action, urging all Nigerians to unite against the privatization proposal, emphasizing that it is crucial for safeguarding the interests of future generations. The labor union stands firm in its stance that the sale of TCN poses a threat to the nation's grid system and could have far-reaching implications on the overall stability of the power sector.

The Nigeria Labour Congress (NLC) has voiced its concerns over the severe consequences of the forex crisis on the nation's economy. The NLC President, Joe Ajaero, attributed the sharp depreciation of the national currency to government officials' preference for foreign luxury goods. He warned that the economy was at risk of enduring a series of negative consequences unless the naira stabilized against the US dollar.

The NLC's statement came ahead of a meeting between organized labor and the Federal Government, scheduled for today, where they will review the implementation of the Memorandum of Understanding signed regarding subsidy removal palliatives.

The NLC has recommended that public officials should support the naira by purchasing locally-manufactured products, rather than foreign luxury items. They emphasize the importance of patronizing Nigerian brands and express their concerns about the negative impact of officials opting for foreign products on the naira's value. They state that these actions "de-market" the naira and call on officials to be more patriotic in their choices, favoring domestically-made goods.

The labor union warns that without immediate interventions, they may be compelled to take action to prioritize the rescue of the naira, the economy, and the nation as a whole. They stress the significance of boosting local production and consumption of domestic products while reducing imports to stabilize the naira. Additionally, they suggest that commodities for export should be priced in naira.

Labor also raises concerns about ongoing disputes with the Imo State government, including unpaid salaries, wrongful designation of workers as ghost workers, destruction of the NLC state Secretariat, discriminatory pay practices, non-compliance with the National Minimum Wage, and unsettled gratuity arrears. They express their intent to embark on mass protests and industrial action to protect workers' rights in Imo State if the government does not resolve these issues. Labor warns that if necessary, they will shut down the state on the governorship election day, November 11, 2023.