Home NEWS ECONOMY Recession: Labour advises Buhari to engage economists

Recession: Labour advises Buhari to engage economists

The Nigerian Labour Congress (NLC) has advised President Muhammadu Buhari to seek the advice of indigenous economists to generate the necessary ideas and policies that will provide solution to the economic recession in the country.

The President of NLC, Comrade Ayuba Wabba, gave this advice yesterday in Abuja,stressing that the current situation in the country requires indigenous experts to fashion out how best the economy can be revamped.

He says: “I think we should not shy away from relying on Nigerian experts instead of relying on information and dictates of IMF (International Monetary Fund) and World Bank that have their own vested interests.

“We have good economists that have been tested and trusted; we should not shy away from using their expertise,’’ he said.

According to Wabba, the statistics released by the Bureau of Statistics (NBS) showed that jobs were being lost and that unemployment was also soaring due to galloping inflation.

He said that the economic indicators show that there is a continuous free fall of the naira since the Central Bank of Nigeria (CBN) came up with the flexible exchange rate system.

With this, government can hardly meet their expenditure, especially the payment of mandatory expenses such as salaries in states and local governments, he lamented.

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