A nationwide workers’ strike has slowed economic activity in Nigeria, Africa’s largest economy.
Members of the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC) are going on the all-out and indefinite strike, demanding that the government implement an agreement to tackle high prices on transport, food, drugs and petrol. This comes against the backdrop of the oil subsidy removal, TUC President Festus Osifo claimed.
Aside the government failure to implement our agreement, we are asking the government to bring the perpetrators of assault on NLC president to justice.
Osifo stated that the NLC president went to Imo State to address the non-payment of workers’ salaries and allowances, but was attacked by policemen and others linked to the state government.
On Wednesday, the second day of the strike, operations of banks and other financial institutions, seaports, the state railway corporation, the oil sector and public schools were halted in most parts of the country.
Musa Njadvara, an economist and financial correspondent with UK-based daily The Guardian, claimed the strike would “further compound the ailing economy”.
It will worsen the current inflation because supply will drop sharply against high demand. Nigeria will lose more money. This will affect credibility of our economy in the eye of foreign investors.
Rasaki Dauda, head of the Department of Economics at Redeemer’s University in the southwestern Nigerian town of Ede, warned that the strike would have a huge impact on Nigeria’s oil production by reducing output.
Abdul Bala, a Nigerian entrepreneur, claimed to have lost about 4 million Nigerian Naira (3000 US dollars) at the Apapa Lagos seaport since Tuesday when the strike started.
Nigeria is facing its fifth labour union strike this year.
