Labour Minister Nkiruka Onyejeocha has asserted that the Federal Government has successfully implemented around 90% of the agreement reached with Organised Labour in October. On Channels Television's Politics Today program, she mentioned that the President of the Nigeria Labour Congress (TUC), Joe Ajaero, acknowledged during a recent meeting that the protest was not a reflection of the government's commitment to the October agreement but rather a response to food inflation.
Onyejeocha emphasized that food security and economic prosperity are key priorities of the administration led by President Bola Tinubu. She urged Nigerians to exercise patience as the government is in its planting season with anticipated benefits on the horizon.
The Labour Minister specified that the Federal Government has addressed approximately 90% of the 15-point memorandum of understanding signed with Organised Labour on October 2, 2023. Some key agreements include implementing a wage award of N35,000 for workers, initiating a minimum wage committee, and suspending the collection of Value Added Tax (VAT) on Diesel for six months.
Regarding providing high-capacity CNG buses for mass transit, Onyejeocha mentioned that funds have been released for this purpose. However, she acknowledged challenges beyond the government's control, such as the unpredictability of the duration containers stay at the port.
Nigeria is currently grappling with various economic challenges, including rising inflation, food inflation, a forex crisis, economic hardships, and a high cost of living. Protests erupted in response to the removal of petrol subsidies. Despite last-minute talks between the Presidency and labor leaders, the strike organized by the NLC proceeded, impacting economic activities. The protest was suspended after its first day, with labor leaders stating that the objectives were achieved.