FOBTOB @ 40:Food workers’ boss laments paucity of forex

….says it’s inflicting severe pains on  manufacturers

UFOMBA UZUEGBU

President of the Food,Beverage and Tobacco Senior Staff Association,Jimoh Oyibo has renewed appeal to the Federal Government to ensure availability of foreign exchange to the nation’s manufacturers to save the sector from imminent collapse.

Oyibo made the call  weekend  in Lagos while fielding questions from newsmen as part of activities to mark the union’s 44th anniversary.

He noted that the worsening shortage of foreign exchange is inflicting severe pains on manufacturers who are struggling to access the foreign exchange needed to import raw materials, spare parts and machinery.

He said : “Issues of forex are affecting my industry such that we cannot get it to use for important production. The consequences are not what we want to imagine.

“Already, one of our big employers,Ragoils Water in Ikorodu has shut down due to unavailability of forex.

He said it was regrettable that manufacturers who sustain the nation’s economy cannot get forex, but the US dollar is in the hands of politicians who use it at their conventions and other political activities.

According to the FOBTOB boss,sourcing of forex from the black market which most of the companies are now doing, is not sustainable.

He said : ” It is unfortunate that such things are playing out.Yet, we have a government. Sourcing from the black market reduces profit margin of manufacturers and what that means is that they will not be able to meet up with their overheads”.

He charged government to live up to its responsibility and ensure that forex is made available to manufacturers and not  for party jamborees.

On the introduction of Excise duty on carbonated drinks despite the plea by the unions,  Oyibo noted that the present administration has failed not only workers but Nigerians as the effects of the increase cut across several stakeholders.

“The duty affects our members who are now producing at a loss,but despite this, our employers have been magnanimous as we did not witness any redundancy.

“What we did was to advise our employers in those companies affected to push up the volume to make up, but our fear now is the technology being deployed in those companies “,he added.

Oyibo opined that the  workers cannot afford to lose jobs now with the current inflation that has eroded even the present earnings of the workers.

He said:”The government has failed us from day one.At the beginning , we felt help had come.All of us must rise  up to usher in a government with  a  human face.

“The fact that there are no consequences for corrupt practices is what led us to this level of degeneration. The leadership will need to change, so that  at the end of the day, things will be okay for our industry and the country”.