NLC demands that NLC be stabilised immediately

The Nigeria Labour Congress has demanded that the Naira be stabilised immediately.

It warned that if the Naira’s unrestrained decline against the dollar continued, the nation’s economy would face a “wave of devastating consequences.”

In a statement released on Sunday in Abuja, Joe Ajaero, the National President of the NLC, suggested a number of strategies for the Federal Government under President Bola Tinubu to “rescue” the Naira.

The NLC advised the government to buy locally made items, such public vehicles for government personnel, in an intentional effort to “protect” the naira.

Additionally, it exhorted public servants to uphold their patriotism and abstain from buying goods made abroad.

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The Nigeria Labour Congress (NLC) called on those in charge of our economy to acknowledge the seriousness of the situation and act swiftly and decisively to stop the uncontrolled devaluation of the Naira.

We beg the monetary authorities to take decisive action to protect the Naira, stabilise the economy, and ensure the survival of our dear country.

“Every country in the world takes pride in defending its own currency against various challenges, but it appears that Nigeria is doing the opposite. We are shocked and extremely concerned about a country that would let its native currency be at the whim of the so-called market forces when it has a high import coefficient and less than one elasticity of exports.

Details to come.