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The FG should stop mortgaging the future of Nigerians with foreign loans – TUC
Business/Economy

The FG should stop mortgaging the future of Nigerians with foreign loans – TUC 

 

The Trade Union Congress (TUC) has asked the Federal Government to stop mortgaging the future of Nigerians by taking many foreign loans.

The congress urged the government to look inwards by harnessing the country’s natural endowments for its financial needs.

 

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TUC’s National Treasurer, who doubles as President-General of the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC), Mohammad Yunusa, spoke in Abuja while addressing reporters at the end of the union’s Central Working Committee (CWC).

 

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The Senate, last week, approved President Muhammadu Buhari’s N2.3 trillion foreign loan request.

 

 

The TUC also lambasted the government for the rising cost of living in the country, saying such development erodes the importance of National Minimum Wage, which some states are yet to implement.

 

In a joint communiqué by the General Secretary of SSASCGOC, Ayo Olorunfemi, the labour leader urged the Federal Government to improve the welfare of the citizens and the workers.

 

The communiqué reads: “CWC-in-Session is alarmed at the rising cost of living in the country that has made minced meat of the National Minimum Wage, which some states are yet to implement.

 

“CWC-in-Session vehemently detests the heavy government external borrowings to avoid mortgaging the future of Nigeria. We call on the government to look inwards to harness the country’s national/natural endowments.”

 

 

The union also condemned “…the spate of kidnappings and the unbridled abductions of school children, students in tertiary institutions and travel ers on Nigerian roads”.

 

 

 

Source: www.thenationonlineng.net

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