NLC President: World Bank, IMF lack solution to Nigeria’s Economic Recession

NLC President: World Bank, IMF lack solution to Nigeria’s Economic Recession

The Nigeria Labour Congress has advised the federal government against seeking way out of the current economic recession through the International Monetary Fund or external institutions. Its president, Comrade Ayuba Wabba, gave the advice in Asaba at the 5th National Delegate Conference of the National Union of Civil Engineering Construction, Furniture and Wood Workers (NUCECFFWW), where he maintained that the solutions to Nigeria’s economic challenges are home grown.

Ayuba was quoted as saying that for Nigeria to roll back its economy to prosperity, government must design policies that would bring back industries, create productive jobs, revive public electricity and revalue the nation’s currency.

He emphasized the need for the government to encourage the growth of informal economy, resume local production

of petroleum products, develop solid minerals and tourism, among other resources of global economic value.