As President Bola Tinubu marks two years in office, the Nigeria Labour Congress (NLC) has issued a scathing critique of his administration’s economic policies, stating that they have brought nothing but hardship and suffering to Nigerian workers and the general population. NLC President Joe Ajaero’s appraisal of the government’s first two years paints a bleak picture, with the promise of a “new dawn” and “bold economic reforms” giving way to crippling inflation, skyrocketing fuel prices, and a precipitous decline in the value of the naira.
According to Ajaero, the sudden removal of the petrol subsidy has had a devastating impact on the economy, causing fuel prices to soar from N187 to over N600 per liter overnight. This, in turn, has led to rampant inflation, with families forced to skip meals, businesses shutting down daily, and transport costs consuming a significant portion of workers’ wages. The NLC boss noted that instead of reinvesting in the economy, the government’s policies have led to a vicious cycle of poverty and inequality, with the majority of Nigerians bearing the brunt of the suffering.
Ajaero also expressed frustration that the government’s policies are nothing new, having been tried and failed in the past. “We have seen this script before,” he said, “subsidy removals, devaluations, and IMF-approved austerity, each time sold as the bitter pill Nigeria must swallow for a brighter future. But when has it ever worked?” He pointed out that these policies have only served to widen the gap between the rich and the poor, with the majority of Nigerians now struggling to make ends meet.
The NLC president also highlighted the plight of Nigerian workers, who have seen their real wages obliterated, and pensioners, small and medium-sized enterprises (SMEs), and over 150 million Nigerians struggling with multidimensional poverty. Furthermore, he criticized the government’s response to labour protests and actions, which has included intimidation, harassment, and flagrant disregard for court orders. The only notable effort by the government, according to Ajaero, is the provision of compressed natural gas (CNG) buses to ease transportation for Nigerian workers, but this remains grossly inadequate due to severe gas infrastructure deficits.
In summary, the NLC’s appraisal of President Tinubu’s two years in office is a damning indictment of his administration’s economic policies, which have brought unprecedented hardship and suffering to Nigerian workers and the general population. As the government marks this milestone, it remains to be seen whether it will take heed of the NLC’s criticisms and work towards implementing policies that benefit the majority of Nigerians, rather than just a privileged few.
