Union tasks government on quick diversification to end recession

As the effects of the economic recession bite harder on Nigerians, organised labour has tasked the Federal Government to speed up its efforts ‎at diversifying the economy from the oil sector.

The union under the umbrella of the Chemical and Non-Metallic Senior Staff Association (CANMPSSA) said Federal Government should spread its diversification tentacles towards agriculture, tourism, solid mineral, hospitality and others to reduce the effect of dwindling revenue.

‎The National President of the union, Mohammed Abdul Gafar, at three-day Annual National Management / Industrial Relations Seminar and Entrepreneurship Skills Acquisition held recently, said the situation of the economy which has defied all reasonable economic policies so far proposed, called for more seriousness on the planned diversification.

“The focus on crude oil as the major source of revenue for the economy has greatly incapacitated all other available sources of revenue in our country and by implication has affected our sector with the exchange rate of naira to dollar rising astronomically”, he said.

He reasoned that Nigeria immensely blessed with ‎skilled personnel; materials and natural resource ought not to have been in the present precarious situation, but for lack of foresight of the past leaders.

As a way out, the labour leader said Federal‎ Government should give priority to agriculture, which he said has been a major source of revenue generation and raw material bases for manufacturing industries.

“Effort should be made to consolidate on massive productions of cash crops segment of agricultural sector for exportation of agro-allied products to boost the revenue and increase the GDP of the country”, he stated.

Gafar lamented that the effect of the present economic situation in the country has been devastating on the manufacturing sector of the economy, through the scarcity of foreign exchange, harping that government should march its words on backward integration with action.

He noted that industries in Nigeria have now embarked on ‎various strategies to enable them remain in business, some which are detrimental to the workers.