NLC President, Joe Ajaero Calls For Immediate Stabilization Of Naira

The Nigeria Labour Congress (NLC) has urgently requested the stabilization of the Naira.

It noted that the country was at risk of a “wave of devastating consequences” on its economy should the free fall of the Naira against the dollar remain unchecked.

The National President of the NLC Joe Ajaero, in a statement on Sunday in Abuja, recommended various ways for the Bola Tinubu-led Federal Government to rescue the Naira.

The NLC has advised the government to “protect” the Naira by consciously choosing locally produced items, such as government vehicles for officials.

It also encouraged public officials to show patriotism by avoiding the purchase of foreign products.

The statement read in part, “The Nigeria Labour Congress hereby calls upon the custodians of our economy to recognize the gravity of the situation and take immediate and decisive action to halt this uncontrolled depreciation of the Naira.

“We implore the monetary authorities to implement effective measures to safeguard the Naira, stabilize the economy, and secure the future of our beloved nation.

“All nations of the world take pride in protecting their domestic currencies from all manners of threats but the reverse seems to be the case in Nigeria, why does a country with a high import coefficient and less than one elasticity of exports allow its local currency to be at the mercy of the vagaries of the so-called market forces leaves us surprised and deeply worried.”

Kanyi Daily recalls that the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) had suspended their planned strike which was slated to commence on Tuesday, October 3rd.