The Organised labour has said Nigerian economy has the potential of fast recovery not just for exiting recession, but if employers especially governments would end the crisis of non-payment and delayed payment of salaries.
Labour insisted that unending crisis of compensation of the worker manifesting in “criminal” non-payment and delayed payments of salaries by many state governments despite serial Federal government bail outs in trillions of Naira, is a major threat to economic recovery and growth.
Reacting to the recent statement of the National Bureau of Statistics, NBS, positive growth numbers of 0.55 per cent compared to the negative contraction of 1.6 per cent in 2016, the General Secretary of the National Union of Textile, Garment and Tailoring Workers of Nigeria, Comrade Issa Aremu, observed that Nigeria could only recover from economic recession with enhanced purchasing power, which is only possible through prompt and adequate payments of over 10 million employed workforce.
Aremu, who is also the Vice President of Industrial Global Union, likened Nigerian economy to a big blind economy (BBE) which gets excited with a dimmed ray of eye sight, contending that it was time Nigeria got ambitious in its quantitative and qualitative growth and development numbers.
According to him, the Federal Government Economic Recovery and Growth Plan ERGP (2016-2020) launched last year envisaged 4.6 per cent restoration GDP growth in 2017.