The Trade Union Congress (TUC) has urged President Bola Tinubu’s administration to move beyond promises and take concrete action to address the economic hardship gripping Nigerians.
“As an average Nigerian, one of the things you spend your hard-earned money on is actually food. The government must do something,” TUC President Festus Osifo said on Channels Television.
“We’ve had a lot of rhetoric: ‘We’ve declared a state of emergency on food security’. We have had a lot of meetings and summits on issues like this. Nigerians are tired of meetings, summits, and rhetoric. Today, the cost of items in the market has skyrocketed and gone over the roof.”
Since May, a combination of the fuel subsidy removal and a free-floating naira has seen petrol prices triple and the cost of living skyrocket.
Despite agreements reached with organised labour, both the NLC and TUC claim the government is failing to deliver on its commitments.
Meanwhile, December inflation in the country soared to 28.92%, with food costs reaching 33.93%, according to the National Bureau of Statistics. The naira’s devaluation against the dollar has further worsened the situation, leading to a sharp rise in the value of the local currency against the dollar, from N450/$ to about N1400/$ in a short period.
Public frustration has also been noticed. Protests have erupted in Kano, Niger, and Osun states, demanding government intervention. In response, President Tinubu recently authorised the release of 42,000 metric tons of grains from strategic reserves. However, many fear this is just a temporary succour.