Tinubu’s broadcast ‘neither here nor there’ – Organised labour

Organised Labour has described President Bola Tinubu’s Monday’s national broadcast as being ‘neither here nor there,’ just as it vowed to proceed with its planned Wednesday, August 3 nationwide industrial action.

Reacting via the President of the Nigerian Labour Congress (NLC), Comrade Joe Ajaero, Monday, the groups insisted on going ahead with their planned strike which they had called in protest over the removal of subsidy on imported petroleum products as it accused the Federal Government of failing to duly consult widely, as well as, failure to deploy appropriate to ameliorate the consequent hardship on Nigerian workers.

However, addressing reporters after the resumed meeting of the Presidential Steering Committee on Palliatives, held at the State House, Abuja, Monday, Mr. Ajaero, said the plan for workers to proceed on a peaceful protest from tomorrow had not changed.

Participants in Monday’s meeting included the NLC president, Ajaero, representatives from the Trade Union Congress (TUC), the General Secretary of NLC, the TUC Secretary, and other delegates from the organized labour.

On the government side, attendees included the Chief of Staff to the President, the Permanent Secretary of the Ministry of Labour and Employment, the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), and the Special Adviser to the President on Energy, among others.

According to labour, what Tinubu told Nigerians ‘was neither here nor there considering that after spending two months in office, there was no concrete measures to bring immediate succour to the people.’

It would be recalled that key points of Tinubu’s nationwide broadcast, Monday, was was te promise by the President that his administration was monitoring the effects of the exchange rate and inflation on gasoline prices with a pledge to intervene “if and when necessary.”

Tinubu also announced that N75bn will be set aside to fund enterprises at 9% per annum; N125bn to energize MSME; 200,000 Metric Tonnes of grains to be distributed nationwide, along with 225,000 metric tonnes of fertilizer, seedlings and other inputs; N50 billion each to cultivate 150,000 hectares of rice and maize; N50bn each to cultivate 100,000 hectares of wheat and cassava; N100bn to acquire 3000 units of 20-seater CNG-fuelled buses.

“The defects in our economy immensely profited a tiny elite, the elite of the elite you might call them. As we move to fight the flaws in the economy, the people who grow rich from them, predictably, will fight back through every means necessary.

“Our economy is going through a tough patch and you are being hurt by it. The cost of fuel has gone up. Food and other prices have followed it. Households and businesses struggle. Things seem anxious and uncertain. I understand the hardship you face. I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help not hurt the people and nation that I love.”

“Fellow Nigerians, this period may be hard on us and there is no doubt about it that it is tough on us. But I urge you all to look beyond the present temporary pains and aim at the larger picture. All of our good and helpful plans are in the works. More importantly, I know that they will work.

“Sadly, there was an unavoidable lag between subsidy removal and these plans coming fully online. However, we are swiftly closing the time gap. I plead with you to please have faith in our ability to deliver and in our concern for your well-being.

“Our objective is to fund 75 enterprises with great potential to kick-start a sustainable economic growth, accelerate structural transformation and improve productivity. Each of the 75 manufacturing enterprises will be able to access N1 billion credit at 9% per annum with maximum of 60 months repayment for long term loans and 12 months for working capital,” he said.

Tinubu also said the administration, having recognised the importance of micro, small and medium-sized enterprises and the informal sector as drivers of growth, would energise this very important sector with N125 billion.

“Out of the sum, we will spend N50 billion on conditional grants to 1 million nano businesses between now and March 2024. Our target is to give N50,000 each to 1,300 nano business owners in each of the 774 local governments across the country.

“Ultimately, this programme will further drive financial inclusion by onboarding beneficiaries into the formal banking system. In like manner, we will fund 100,000 MSMEs and start-ups with N75 billion. Under this scheme, each enterprise promoter will be able to get between N500,000 to N1million at 9% interest per annum and a repayment period of 36 months.”

To further ensure that prices of food items remain affordable, he said the administration had a multi-stakeholder engagement with various farmers’ associations and operators within the agricultural value chain.

“In the short and immediate terms, we will ensure staple foods are available and affordable. To this end, I have ordered the release of 200,000 metric tonnes of grains from strategic reserves to households across the 36 states and FCT to moderate prices. We are also providing 225,000 metric tonnes of fertiliser, seedlings and other inputs to farmers who are committed to our food security agenda.

“Our plan to support cultivation of 500,000 hectares of farmland and all-year-round farming practice remains on course. To be specific, N200 billion out of the N500 billion approved by the National Assembly will be disbursed as follows:

“Our administration will invest N50 billion each to cultivate 150,000 hectares of rice and maize. “N50 billion each will also be earmarked to cultivate 100,000 hectares of wheat and cassava.”

“This expansive agricultural programme will be implemented targeting small-holder farmers and leveraging large-scale private sector players in the agric business with a strong performance record,” Tinubu said.

Tinubu also promised to review the national minimum wage of N30, 000.

“Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.

“I want to use this opportunity to salute many private employers in the organised private sector who have already implemented general salary review for employees,” he added.

However, Ajaero expressed doubts over Tinubu’s ability to control inflation and high-rising pump price of petrol due to the unification of the exchange rate.

“By the time you have a single market and you are not having anything that has a comparative advantage, your energy is import driven, then how are you going to control it? How are you going to control somebody that exchanged dollars at about 900 (naira)? Are you going to tell him to sell below the price?

“How are you going to tell even NEPA (DisCos) today, with the cost of production not to increase tariff? Even corn in the villages that was sold at N18, 000 by February, now it’s about N56,000. How are you going to control it?” Ajaero said.

Remarking after the meeting, Chief of Staff to the President, Femi Gbajabiamila, said the government was dealing with the oil cabals that had brought the economy to its knees.

On the report that crude oil cabals were more powerful than the security and government, Gbajabiamila replied: “Yes they are and that’s what the government is dealing with. First of all, remove the subsidy, that’s the first step.”

Also, National Security Adviser to President Tinubu, Nuhu Ribadu, pleaded with the organised labour to give the administration little chance to fix the economy, saying Tinubu inherited a bad economy that he is working hard to fix.

The Steering Committee adjourned their meeting until 12 noon on Tuesday to allow the labour leaders to listen to the president’s national broadcast on Monday.