FG urged to devise local solutions to economic crisis

Federal Government of Nigeria has been urged to look inward for a solution to the economic challenges plaguing the country.

Boniface Isok, president, National Union of Chemical, Footwear, Rubber, Leather and Non-Metallic Products Employees (NUCFRLNMPE), made the call on Monday, in Owerri, Imo State, at a five-day seminar to sensitise the workers on industrial relation issues.

The seminar has as its theme, ”redefining industrial relations for the sustenance of chemical and non-metallic sector in an era of economic instability.”

According to Isok, foreign policies cannot adequately address the challenges in Nigeria, hence, it is imperative for the government to analyse its peculiar challenges with a view to solving them.

Isok said one of the problems affecting the nation presently was the massive importation of poor quality and cheaper consumable goods, saying, “This creates stiff competition for the locally produced goods. The practice affects the health and well-being of the consumers and reduces the Gross Domestic Product of the country.”

The union president said the government should take a decision to ensure the regulation and restraining of the influx of foreign goods into the country, and reiterated the need for the government to diversify from oil to agriculture, mining, tourism and manufacturing to ensure the growth and development of the economy.

He said manufacturing sector was at its lowest ebb because of lack of access to foreign exchange to procure raw materials for production, noting, “To make matters worse, epileptic power supply, non availability of gas and fuel, infrastructural amenities, insecurity are not being tackled.”

He said it was regrettable that the problem had led to sack of workers and employment of more casuals, and rather than organise, the union spent more time discussing redundancy.

Olorunfemi Oke, executive secretary, Chemical and Non-Metallic Products Employers Federation (CANMPEF), said the state of the economy was affecting both the employers and employees.

Oke said the economy could continue to contract, especially with the negative forecast by IMF, which was collaborated by the CBN, and this would impact on employment relations.