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TUC Cautions FG Over Rising Public Debt Stock

Trade Union Congress (TUC) has warned the Federal Government against increasing the nation’s indebtedness to unmanageable level, saying that excessive borrowing has negative wealth transfer implications for millions of Nigerians.

The union gave the warning in a Sallah message jointly signed by its National President, Mr. Quadri Olaleye and the Secretary General, Mr. Musa-Lawal Ozigi.

The labour group lamented: “The impoverished masses of the country are going through an excruciating experience presently and it behooves the wealthy and the privileged Nigerians to empathise with the needy.

“Painfully and regrettably the order of the day has been a flagrant transfer of our commonwealth and loans to foreign banks rather than making it useful for the nation where it is needed.

“This is the time for the leadership at all levels to have a rethink and redraw a workable roadmap capable of transforming the economy of the country. The plight of Nigerians under this administration falls below expectation. We say no to more loans. It has to stop”, TUC stressed

The labour group further charged the government to ensure gainful employment of the unemployed youths, adding that “the congress desires a country that is peaceful and development conscious.
To achieve this, the youths have to be gainfully engaged, not as political thugs. An army of idle youths portends great danger for any society.

“The harsh economy is taking tolls on a large number of Nigerians and out of frustration many, especially the youths are doing untoward things just to make ends meet”, it added.

The TUC expressed the hope that the Sallah celebration would humble every Muslim in particular and Nigerians in general in their service to God and to humanity.

This is even as it charged “the leadership of the country to bear it in mind that the country is in a dire strait and we can only overcome if they (leaders) lead a selfless and exemplary life.

“While we celebrate with our Muslim brothers and sisters, we must be committed to sharing and caring for one another as Allah has directed”, the labour group admonished.

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