- Experts have attributed the unsettling state of the nation, especially the unprecedented economic downturn, to the haphazard removal of subsidy and the unification of the exchange rate.
The Nigeria Labour Congress, NLC, has asserted that 2024 is the toughest and harshest year for Nigerians.
The NLC President, Joe Ajaero, who gave the verdict, said the year was filled with agony, pain and hardship for Nigerian workers.
He made assertion on Monday in Abuja at the 2024 “Harmattan School,” themed “Trade Unions and the Quest for a New Social Contract.”
“I welcome you to a year that we have witnessed one of the greatest turbulence in our history as a movement. It was a period in which we were invaded, ransacked, and subjected to the highest level of threats and intimidation,” he said.
Cost of living crisis engendered by runaway inflation has impoverished many Nigerians and pushed them into the abyss of destitution as basic commodities are priced out of their reach.
Experts have attributed the unsettling state of the nation, especially the unprecedented economic downturn, to the haphazard removal of subsidy and the unification of the exchange rate.
Though the government has introduced a raft of policies, like increment in minimum wage, students’ loan and introduction of CNG-powered vehicle to reduce the reliance on petrol-powered vehicles for transport, these initiatives and schemes have barely scratched the surface or had any significant effects by way of cushioning the crippling impacts of subsidy removal and floating of the naira.
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