June 23, 2023

The Trade Union Congress (TUC), has urged the Federal Government to prioritize slashing cost of governance, noting that it will help save up more money for government’s use in tackling other needs.

The TUC President, Festus Osifo, gave the advice while speaking as a guest on Channels Television’s Sunrise Daily on Friday.

“If the cost of governance is reduced, they would be able to save some money from that and if they do all these other things we have said, we believe that funds will be available,” Osifo said.

The TUC President said that the money saved from the removal of petrol subsidy should be harnessed to take care of Nigerians who need special support.

“The government have told us that they are going to save a massive amount of money when the subsidy is removed. So, part of this money should also go to taking care of Nigerians, especially the vulnerable.

Osifo urged the government to be proactive in exploring opportunities to generate more revenue for the nation.

“Crude oil is being sold in dollars (USD), when they were repatriating the money before now, the exchange rate was around 460 naira to a dollar. But today, it is going to be about 700 naira which means that there would be much more naira available to the government.

“More importantly is that as a government, they must be creative. As a government, they must be innovative, they must put on their thinking cap, and be able to grow the revenue of the country.

He recalled that the present administration had in their campaign promised an increase in revenue generation and the growth of the country, adding that it is also their responsibility to think through and make it work.

The TUC boss expressed optimism that the labour union will not lose grip of their demands to FG saying, “We know we cannot get all the 100% demand negotiation, we know our minimum set point.”

He added that the labour union and FG would continue with the negotiations effectively on June 26.