ORGANISED labour, weekend, in
Owerri, Imo State, urged the political and economic class to cultivate “a
bipartisan and pan-Nigerian approach” to overcome the current economic crisis
instead of passing blames and giving excuses.
Speaking on the recently released
Quarterly National Accounts, QNA, of the National Bureau of Statistics,NBS, at
a Central Bank of Nigeria, CBN, interactive session with stakeholders in
Owerri, General Secretary of the National Union of Textile, Garment and
Tailoring Workers of Nigeria, NUTGTWN, Mr. Issa Aremu who doubles as Secretary
General, Alumni Association of National Institute, AANI, Kuru Jos, observed
that “All Nigerians regardless of their callings are dammed by the data on
rising inflation, double digit interest rates, factory closures and general
underdevelopment. Nigerians must collectively confront underdevelopment instead
of giving excuses and blaming each other.”
On the critical views of the past
two governors of the CBN namely Charles Chukwuma Soludo and Sanusi Lamido
Sanusi on the policy thrust of Buhari administration comrade
Aremu: said: “The two voices sounded
too familiar, predictable but unhelpful for an economy begging for solutions,”
insisting that it was time to “work the recovery of Nigeria based on 1999
constitution’s provision that says the purpose of governance is welfare and
security of the citizens.
“After 30 years of structural
adjustment programme of privatization, trade liberalization and
currency/financial liberalization, Nigeria urgently must replace the current
disjointed policies with sustainable national development agenda consolidated
in various national discourses articulated in visions 2010, 2020 and 2014
National conference.”
He called on President Muhammadu
Buhari to through the National Institute for Policy and Strategic Studies,
NIPSS, Kuru Jos consolidate all the past “patriotic national economic policies”
failing which he said, imposed prescribed IMF/World bank prescriptions would
further fuel “growth” without development.
Aremu who is also the Chairman,
IndustriALL Global Union, African Region, argued that Nigeria had for so long
failed to plan making the country “perpetually preparing to fail” insisting
that it was time the National Planning Commission be replaced by functional
federal ministry of planning to ensure implementation of all the policy
recommendations.
“The good job CBN is doing through
its interventionist measures in some key sectors of the nation’s economy would
be undermined if the interest rate is not properly managed. CBN must target
capacity utilization and employment as much as it is “targeting inflation” in
its monetary policy. The smartest way to reinflate the economy is through wage
increase linked with productivity improvement and prompt payment of the existing
salaries by states and local governments. President Buhari must urgently
constitute the tripartite committee on the review of the current national
minimum wage,” he said.
