The President of the Nigeria Labour Congress (NLC), Joe Ajaero, has expressed concern that the economic reforms implemented under President Bola Tinubu have negatively impacted the Nigerian populace. Speaking at the 21st Daily Trust Dialogue, Ajaero criticized the government’s policies, highlighting the detrimental effects on the citizens.
Ajaero emphasized that the devaluation of the Naira and the hike in fuel prices have led to increased hardship for the masses. He pointed out that the lack of salary and wage increases has further exacerbated the suffering of the people. Additionally, he criticized the government’s approach to the oil and gas and power sectors, describing it as a situation of “public disaster and private gain.”
The NLC President raised questions about the government’s allocation of resources and subsidies to private investors, particularly in the power sector privatization. He argued that the majority of privatized companies in Nigeria have failed, contributing to an unsustainable increase in national debt.
Furthermore, Ajaero scrutinized the characterization of Tinubu’s policies as “reforms,” emphasizing the need to assess their actual impact on the population. He urged for a comprehensive evaluation of these policies based on their effects on crucial aspects such as food accessibility, housing, healthcare, and overall improvement in the quality of life for the citizens.
Ajaero highlighted the influence of neoliberal principles, as guided by international financial institutions like the World Bank and the International Monetary Fund (IMF), in shaping the economic reforms. He underscored the mixed reactions to these policies and the necessity to delineate their consequences on various segments of the Nigerian society.
The NLC President questioned the coherence and anticipated results of the government’s actions, particularly with regards to fuel price hikes, Naira devaluation, and debt expansion through increased borrowing. He cautioned against expecting different outcomes when repeating similar economic strategies that have previously failed.
In addition, Ajaero drew attention to the government’s apparent inconsistency in its policies, correlating them with the escalating insecurity and pervasive threats of kidnappings and banditry across the country. He criticized the prioritization of economic discourse over urgent, life-threatening crises, given the prevailing security challenges.
This candid and critical assessment by the NLC President sheds light on the real and pressing issues faced by the Nigerian populace. It underscores the need for comprehensive, impactful, and sustainable economic measures that prioritize the well-being and livelihoods of the citizens.
