The Nigeria Labour Congress (NLC) has lamented the devastating impact of the forex crisis on the economy and demanded urgent stabilisation of the Naira.
NLC President, Joe Ajaero said this in a statement on Sunday and blamed government officials’ love for foreign luxury products for the free fall of the national currency.
Ajaero warned that the economy was at risk of “a wave of devastating consequences” if the Naira failed to stabilise against the American dollar.
This is coming ahead of the organised labour and the Federal Government’s meeting scheduled to hold today (Monday).
At the meeting, the Federal Government and the organised labour will review the implementation of the Memorandum of Understanding they signed on subsidy removal palliatives.
In a statement titled, “Urgent action to stabilise the naira amidst alarming depreciation,” the NLC president said the repercussions of the weakened currency would be felt by workers and the masses.
He said, “Hopefully, we may meet tomorrow (today) with the federal government to see whether the agreement with organised labour on the fuel subsidy removal palliatives was met or not.
“If that meeting is to be held, it will be without the Minister of Labour and Employment (Simon Lalong) because we will not be part of any meeting with the federal government that the minister of labour and employment will attend.
“You will recall that the decision we had on the National Union of Road Transport Workers was that all parties, including the police should leave the premises, pending the resolution of the dispute but that did not happen.
“Therefore, any meeting we will have with the federal government, the minister of labour and employment will not be part of it.”