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May Day :Chemical workers lament paucity of forex

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Chemical workers under the aegis of the Chemical and Non Mettalic Products Senior Staff Association (CANMPSSAN), have expressed dismay over the worsening shortage of Foreign Exchange.
They appealed to the federal government to ensure availability of foreign exchange to the nation’s manufacturers to save the sector from imminent collapse.
Reviewing the state of the nation in a statement on Monday, to mark this year’s International Workers’ Day, CANMPSSAN lamented that the “Renewed Hope Agenda” of the President Bola Ahmed Tinubu administration is fast becoming a lost hope for Nigerians and called for urgent policies of government, to arrest the drift.
The statement titled :”Navigating Workers Challenges in the Era of Renewed Hope Agenda” and signed by its President, Comrade Segun David,said: “Companies in the chemical sector,as well as the manufacturing companies in general, find it difficult in procuring US Dollars for raw materials and the consequent high exchange rate has grossly affected our operations, thus raising the overhead costs. Provision of goods and services to the consumers will definitely increase because we have to maintain quality.
” While we acknowledge the Central Bank of Nigeria (CBN) efforts in lowering the free fall of the Naira to the dollar, we want more efforts to be geared towards bringing it down to the barest minimum, thereby reducing inflation and
high cost of food items.
It further said :”Since the inception of President Bola Tinubu administration, the Nigerian workers have been bedeviled with challenges arising from abrupt fuel subsidy removal, without proper cushioning effects being put in place to ameliorate the inevitable rise in cost of transportation and services.
“As the workers were struggling with the reality of meagre income amidst calls on government to make palliatives available while a new minimum wage is put in place, the Central Bank of Nigeria (CBN) came with a policy to float the Naira and FX rates. The Naira experienced massive devaluation at an alarming rate.This has led to serious inflation and high cost of living , which ultimately impoverished a larger section of the Nigerian workers. The present minimum age cannot buy a bag of rice.An average Nigerian worker has up to ten dependents,if the immediate and extended families are put into consideration.”
The Union charged the Federal Government to encourage the Minimum Wage Committee, to fashion out an acceptable minimum wage for the average workers, saying “this will restore our confidence in government of President Tinubu”.

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