"Urgent Call for Economic Relief: President of NUCFRLANMPE Addresses Fuel Subsidy Impact and the Path Forward"

 Mr. Babatunde Olatunji, President of NUCFRLANMPE, addressed the attendees during the inaugural session of the 31st annual industrial relations seminar, themed 'Social Dialogue as a Vehicle for Promoting Decent Work and Industrial Harmony'. He expressed his concerns about the negative impact of the removal of fuel subsidy on the general populace, particularly workers.

Olatunji appealed to the government to swiftly implement policies aimed at alleviating the hardships being endured by Nigerians, especially the working class, due to the elimination of the petrol subsidy. He stressed that the citizens are grappling with considerable hardships.

"It is imperative that the government takes swift action to rejuvenate domestic refineries, develop critical infrastructure like road networks and electricity supply, and foster the growth of the iron and steel industry, which is pivotal to economic advancement," Olatunji emphasized.

Furthermore, Olatunji urged the authorities to address security concerns and implement measures to regulate multiple taxation, rent, and charges. Such regulations would facilitate the survival of manufacturing companies and contribute to the enhancement of Nigeria's Gross Domestic Product.

Highlighting the interplay between economic challenges and industrial relations, Olatunji pointed out, "One evident consequence is the loss of jobs due to factory closures and downsizing. In response, some management bodies have adopted unconventional strategies such as outsourcing and contract staffing, deviating from conventional employment practices."