They may have tried to hide it but Nigeria’s Minister of Labor and Employment, Dr. Chris Ngige has revealed Nigeria is broke.
This comes as the ASUU strike continues to linger on the ILO protest for regular pension remittances.
At a press briefing in Abuja to mark 2022 World Day Against Child Labor, the minister explained that the FG contrary to opinions have no money to pursue capital projects next year.
This development he states might worsen the unemployment and poverty rate of the country, arguing that negotiating separately with members of ASUU would do nothing to resolve the problems of Nigerian Universities.
“I can tell you that Nigeria is broke. There is no money to fund capital projects next year. As you can see, the dollar that has been hovering around N500 and N600 is now above N700. The truth is that there is no money anywhere. The money that the
“FAAC (Federation Account Allocation Committee) has been sharing is money from taxes, customs and other revenue-generating agencies.
“The National Nigerian Petroleum Company Limited (NNPC) no longer remits money to FAAC. So, the situation calls for patriotism from all Nigerians. The lack of money to fund capital projects would have implication on capacity to create jobs. If jobs are not created, poverty will increase in the country.” He said.
Speaking on the negotiations between ASUU and the Ministry of Education, Ngige promises that talks were still ongoing regardless but warns that negotiating with ASUU without NASU and the rest would not hasten the reopening of schools.
“I have been Minister of Labour and Employment for seven years. Before, we negotiated with ASUU alone, which then suspended its strike. But NASU, SSANU and NAAT were on strike. The non-teaching unions locked the classrooms and lecture theatres. They also shut down electricity and water supply to the universities, which almost led to outbreaks in those campuses.
“So, what I am saying is that negotiation with ASUU will not lead to the reopening of the universities. All of them must be involved in the negotiations.”