The Nigeria Labour Congress (NLC) has delivered a scathing assessment of President Bola Tinubu’s two years in office, stating that the period has brought nothing but deeper suffering, economic hardship, and worsening poverty for Nigerian workers and the general populace.
In a statement marking the administration’s second anniversary, NLC President Joe Ajaero said there was little to celebrate, noting that the government’s much-touted reforms have failed to translate into any tangible benefits for the masses.
“When President Tinubu assumed office on May 29, 2023, he promised bold economic reforms and a new era of prosperity. Instead, what Nigerians have received is unprecedented hardship and suffering,” Ajaero said.
He criticized the removal of the petrol subsidy as a key trigger of the current economic crisis, describing it as a hasty move that destabilized the economy. “The abrupt removal of fuel subsidy caused prices to jump from N187 to over N600 per litre, crippling the purchasing power of ordinary Nigerians,” he noted.
Rather than seeing reinvestment or economic relief, Ajaero said Nigerians have faced relentless inflation, collapsing businesses, widespread hunger, and transportation costs that swallow up workers’ earnings.
He further condemned the floating of the naira, which he said has led to its severe devaluation. “Leaving the naira to market forces has turned Nigeria into a cheap market for neighboring countries, while local industries are crushed by imported inflation.”
Ajaero accused the Tinubu administration of repeating failed economic policies of the past. “We’ve seen this before — subsidy removals, currency devaluation, and IMF-style austerity. They’ve never worked. They’ve only widened inequality and deepened poverty. Tinubu’s version has only intensified the pain,” he said.
The NLC also decried the shrinking value of wages and pensions, the struggles of small businesses facing inflation above 150% in inputs, and the rise in multidimensional poverty affecting over 150 million Nigerians.
Ajaero further alleged that labour leaders and trade unions have faced increasing harassment and intimidation over the past two years, with court orders ignored and union protests criminalized. “Despite several promises, federal wage award arrears remain unpaid,” he added.
While acknowledging the Federal Government’s provision of compressed natural gas (CNG) buses as a step toward easing transportation, the NLC president said the measure is grossly inadequate. “The initiative is severely limited by Nigeria’s inadequate gas infrastructure,” he stated.
In conclusion, the NLC insisted that President Tinubu’s two years in office have failed to deliver on promises and instead plunged Nigerian workers and citizens into deeper economic despair.
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