The Nigeria Labour Congress has expressed concern about the deteriorating power supply and inflation in the country.
According to the labour union, the current state of power supply is detrimental to business growth and national progress.
Despite the privatization of the power sector 12 years ago under former President Goodluck Jonathan's administration, there has been no significant improvement in power supply.
During the 13th quadrennial national delegates conference of the National Union of Textile Garment and Tailoring Workers of Nigeria in Abuja, NLC President Joe Ajaero criticized the escalating tariffs alongside declining power supply.
He mentioned his skepticism about privatization as a solution to the power crisis, highlighting the need for sector intervention to avoid further decline.
Ajaero emphasized the necessity of effective policies in the power sector to drive industrialization and development, pointing out that several power plants in Nigeria are not functioning optimally.
He called for a new policy framework to address these challenges comprehensively.
Additionally, Ajaero addressed the issue of rising inflation, citing the current rate of 31.70%. He argued that even if the national minimum wage were increased significantly, it would not suffice due to the devaluation of the currency and subsequent loss of purchasing power.
Regarding the textile industry, Ajaero lamented its poor state despite government efforts to revive it.
He stressed the vital role of
the textile sector in national economic stability and urged for more
substantial interventions to rejuvenate this critical industry.
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