By Bimbola Oyesola
Against the backdrop of hyper-inflation and Nigeria’s dwindling economy as the nation’s currency continues to fall against other global currencies, the Non-Academic Staff Union of Educational and Associated Institutions (NASU) has advocated a single exchange rate to salvage the economy.
The union, at the organ meeting of the Universities and Inter-University Centres Trade Group Council, held in Nasarawa State, mandated the Federal Government to work towards having a single exchange rate, as against the prevailing official and parallel markets.
This, among others, was part of the resolution of the union at the meeting, which equally condemned government underfunding of the educational sector.
The union expressed deep concern at the rate of hyper-inflation in the country and the unprecedented high exchange rate of the naira to the dollar, over-borrowing as well as other negative indices that are further pushing Nigerians below the poverty line and wiping out the middle class.
NASU called on the Federal Government to think out of the box, rejig the economy and review all policies putting pressure on the naira as Nigerians are going through economic woes.
The union lamented the continuous and excessive request for loans by government from international financial institutions and other countries.
“Council opined that the Federal Government’s continuous request for loans would have negative impacts on the nation’s economy and plunge the country into avoidable debts,” the resolution read.
Charging government to stay further action on loan requests and focus on how to judiciously utilize loans already obtained, NASU urged the Federal Government to focus on how to resuscitate moribund industries like the Ajaokuta Steel Mills, petroleum refineries, etcetera, in order to increase internally-generated revenue.
The union condemned in strong terms the high taxation of fixed salary earners in Nigeria at all levels.
The resolution said, “Council noted that Nigerian workers are excessively taxed, even as they have to contend with hyper-inflation and increase in the prices of food items.
“Council, therefore, calls on government at all levels to give workers tax relief, expand tax base to accommodate taxable adults in the informal sector and the wealthy, rather than over-tax a public servant who is already over-burdened with excessive tax.”
On the 2023 general election, the NASU council advised the Independent National Electoral Commission (INEC) to remain focused and impartial in the discharge of its duties and redouble its efforts to ensure that the elections are free, fair and credible, while it called on the government to provide a level playing ground for all the participants in election.
The union equally tasked the electorate not to show apathy during the election period, but rather exercise their franchise by voting for their candidates and disassociating themselves from vote-buying and selling.