•Say govt should bridge poverty gap
By Bimbola Oyesola
Members of Organised Labour in Lagos State have called on the government to bridge the gap between the poor and the rich, lamenting that the various economic and monetary policies have widened the gap.
The workers hinted that the poor have not only been further impoverished but have also been stripped of the capacity to survive the harsh policies.
Speaking with journalists at the 2025 May Day symposium in Lagos, the Chairman, Trade Union Congress (TUC) Lagos council, Gbenga Ekundayo, said though the pains of the reforms might be more severe on the poor due to lack of capacity to absorb the shock, Nigerians across all income levels feel the impact but on a different scale.
“The challenges of the reforms are very profound even for the rich. So, it is something that cuts across everybody. But, just like I said, it is easier for the rich, in most cases, to absorb these shocks than the poor.
“The reforms on the economy by nature, impact more on the poor than the rich. Government should find a way to close the gap,” he said.
Ekundayo said more money is now being controlled by the rich as efforts of the Central Bank of Nigeria (CBN) to mop up excess financial liquidity in its attempts to control inflation are not yet achieving expected results as the plight of the poor worsens.
Former National Deputy President TUC, Oyinkansola Olasanoye said salary increase is not the solution as the difficulties are becoming unbearable to millions of Nigerians and wages have not kept up with the rising cost of living.
She emphasised that wage increase at this point of hyperinflation in the country would have little or no economic impact on the living conditions of Nigerians.
“Having more money does not translate to quality life rather, the solution should be the purchasing power of the Naira. In other words, it is not the volume of money in one’s hands that matters, but what the money can buy.
“I think what the government needs to do is focus more on the basic infrastructure such as housing, health care and transportation among others,” she said.
Chairperson, Nigeria Labour Congress (NLC), Lagos Council, Funmi Sessi said the current economic situation had been very challenging, most especially for the Nigerian workers.
She said widespread hunger is now ravishing millions of Nigerians, with the workers’ purchasing power significantly eroded, while insecurity has assumed an increasing dimension.
She tasked the current administration to urgently reconsider his administration’s economic policies, citing the significant hardship that average Nigerians are presently facing.
“Nigerians are left wondering where their next meals will come from and what tomorrow might bring,” she stated, adding that the government has made significant strides, “but there is no doubt that people are suffering, and protests are rising. The Federal Government needs to act swiftly to adjust its policies to alleviate the burden on the masses.”
Speaking on the theme of this year’s symposium, ‘Reclaiming the Civic Space Amid Economic Hardship,’ the Secretary of TUC, Lagos Council, Abiodun Aladetan said the theme was chosen to reflect the current situation of the Nigerian workers.
He said after the new minimum wage was approved, the expectation was high.
“The expectation of the workers was high, with the hope that things will get better. Infact, things are even getting worse. These and many issues are what we want to look into,” he said.