Joe Ajaero, President of the Nigeria Labour Congress (NLC), has voiced deep concern over the surge in living expenses attributed to President Bola Tinubu’s decision to scrap fuel subsidies.
Speaking at the 13th quadrennial national delegates conference of the National Union of Textile Garment and Tailoring Workers of Nigeria in Abuja, Ajaero emphasized the crippling impact of escalating living expenses on working families, suggesting that even an income of N1 million might prove inadequate.
Ajaero stressed the urgent need to address various economic factors influencing the determination of minimum wage, citing the persistent devaluation of the currency and unchecked inflation as critical issues undermining the purchasing power of workers.
Furthermore, he decried the longstanding issue of inadequate power supply, emphasizing its detrimental effects on both business operations and national progress. Despite the privatization of the power sector twelve years ago, Ajaero highlighted a stark lack of improvement in power distribution.
Advocating for a policy overhaul in the power sector, Ajaero underscored the importance of effective interventions to drive industrialization and overall development. He criticized the inefficiency of existing power plants and called for decisive measures to revitalize the sector, emphasizing the pivotal role of sustainable policies in fostering economic growth and stability.