Skip to main content

Union Urges Buhari Not To Listen To Advice On Subsidy Removal, Devaluation.

By
The National Union of Textile and Garment Workers of Nigeria (NUTGWN) has urged President Muhammadu Buhari not to listen to those advising him to devalue the naira and remove fuel subsidy.
The Secretary General of the union, Mr Isa Aremu, made the call in a statement made available to the News Agency of Nigeria (NAN) in Kaduna.
Speaking at an award ceremony in Lagos, Emir of Kano, Muhammdu Sunusi II, who is also a former Governor of the Central Bank of Nigeria (CBN), had stressed the need for the Federal Government to completely remove fuel subsidy. He also urged the Presidency and CBN to reconsider their stance against naira devaluation.
Also, the Emir called on those appointed to serve as ministers under President Muhammadu Buhari to always have the courage to advise him honestly.
Aremu agreed with Sanusi on his advice for the incoming ministers but strongly disagreed on fuel subsidy removal and devaluation of the naira.
“There is no choice for the President between policy sycophancy and policy dictatorship/policy ambush.
“Emir Sanusi must rethink outside the box of neo-liberal IMF’s unhelpful policies of devaluation (which he commendably rejected as CBN governor).
“Nigeria needs a new paradigm of bold policy choices and new star-words in place of boring ideological mantra of devaluation and subsidy removal.
“The naira in recent time lost its value drastically to the existing devalued rate of N197 to a dollar.
“This has further eroded wage income of millions of workers (many with unpaid monthly salaries) thereby worsening poverty.
“We support the bold measures of the CBN Governor, Mr Godwin Emefiele, in managing the scarce foreign reserve through restrictions on some frivolous imports.
“Nigeria, more than any nation, currently suffers huge capital inadequacy with the nation’s foreign currency reserves falling sharply by some 27 per cent to $29 billion since the end of September.
Aremu’s solution to the challenges faced by the country is good governance.
“Nigerians look forward to urgent fixing of the existing refineries, passage of PIB, reorganisation and repositioning of NNPC, reinvention of the downstream infrastructures of fuel production and distribution and ending crude oil theft.
“So, the new administration should reject one-cap-fits-all policy dictates,” he said.

Comments

Post a Comment

Disclaimer: Opinions expressed in the comments are those of the comment writers alone and does not reflect or represent the views of Gee.

Contacts us with happenings around you on geeblog9@gmail.com and for your free event placement.

Popular posts from this blog

Ever got bad service/ product for your money? well look no further

By
Do you know your right as a consumer of products and services? Consumer Rights As a consumer, you have the following rights and you must insist on them. The right to Satisfaction of Basic Needs Access to basic goods and services necessary for survival, such as food, water, energy, clothung, shelter, health-care, education and sanitation. Goods and services must meet the standard of quality promised such that there is value for money in the purchase. The Right to Safety Protection from hazardous products, production processes and services. The Right to Information Provision of information enabling informed consumer choice as well as protection from misleading or inaccurate advertising and labeling. The Right to Choose Access to variety of quality products and services at competitive prices. The Right to Redress Compensation for misrepresentation, shoddy goods and unsatisfactory public and private services, including the right to adequate legal represe...
3 comments
Read more

Protest by members of the Nigeria Labour Congress at the Ikeja Electricity premises

By
The Nigeria Labour Congress (NLC) are right now show solidarity over the non payment of salaries owed it. With some o them scaling the gate.
Post a Comment
Read more

Nigerian Defence Academy Application for 68th Regular Course 2016

By
Nigerian Defence Academy (NDA) - This is to inform the general public that online application for admission into the 68th Regular Course of the Nigerian Defence Academy (NDA), Kaduna will be available from 26th January to 15th March 2016. Admission into NDA is open to both  Male and Female  Nigerians. NDA - Application for Admission into the Nigerian Defence Academy 68th Regular Course Examination Date and Requirements The examination will be conducted as an Entrance Examination (similar to Post-UTME examination in conventional universities), and is scheduled to hold on Saturday 23 April 2016. Therefore, all eligible candidates are to bring along their Acknowledgement Form, Examination Admission Card, JAMB result slip and TWO (2) postcard sized (3.5 x 5 inches) photographs to the Examination Centre on the examination date. The photographs should show only from the chest upwards and should contain the candidate’s Name , Exam number, State, Exam Centre, Course of study and...
Post a Comment
Read more