Business
THE Manufacturers Association of Nigeria (MAN), has urged the Federal Government to dialogue with the NLC on its planned picketing of Central Bank of Nigeria (CBN) offices nationwide.
The News Agency of Nigeria (NAN) reports that President of the Nigeria Labour Congress (NLC), Joe Ajaero on Wednesday directed workers to embark on strike over the lingering cash crunch and fuel scarcity.
Ajaero also directed that affiliate unions constituting the NLC should be on standby to picket all branches of the CBN nationwide during the strike which is expected to begin from Wednesday, March 29.
Dr Okwara Udensi Edo/Delta Chairman of MAN, in an interview with NAN in Benin, said embarking on strike was not the best option as it would compound the present sufferings of Nigerians.
“For us as manufacturers, strike is not the best option, dialogue is the best thing so that we will not suffer more.
“Embarking on industrial action will ground our businesses, road transport workers might join the strike and this will cripple our activities.
“But unfortunately, it seems strike is the language the government understands.
“ I read on the news that the CBN says it will mop up the old N500 and N1,000 notes to commercial banks.
“Must people tell them they want to go on strike before they mop up cash to banks, he said.
He regretted that the manufacturing sector had continued to witness high cost of production, a situation that was not good for economic development.
“We now buy diesel for between N820 and N830 per litre, how many litres of diesel will you buy to run your generator to produce?
“Raw materials we used to pay between N350,000 and N400, 000 to convey from Jos to Benin City in 2022 is now about N800,000 as at today.
“Business is no longer lucrative, profit margin has been swallowed by the high cost of production.
“Customers are not ready to buy at higher prices, manufacturers are just selling to stay afloat,’’ he said. (NAN)
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Tags: CBN Manufacturers Association of Nigeria Nigeria Labour Congress Okwara Udensi Edo
