Labour leaders say a stronger currency could ease fuel and living costs, while calling for wage talks and accountability over deaths in custody.
The Trade Union Congress has urged the federal government to pursue policies that would strengthen the naira to between N700 and N800 against the United States dollar, arguing that the exchange rate remains a major factor in petrol prices and the cost of goods.
TUC President Festus Osifo made the call in Abuja after a meeting of the union’s National Administrative Council. He said the currency’s trading level, which he put at slightly above N1,300 to the dollar, remained weaker than the union believed economic fundamentals justified.
Osifo acknowledged signs of improvement in inflation and other macroeconomic indicators and commended Central Bank of Nigeria Governor Olayemi Cardoso. Nevertheless, he maintained that the benefits of stabilisation had not sufficiently reached households and workers. The N700–N800 range was the congress’s policy demand, not an exchange-rate forecast or a rate announced by the CBN.
The TUC president recalled that currency reform featured prominently in a 15-point set of demands the congress presented to government in 2024. He said improved exchange-rate conditions could reduce the cost of imported inputs and relieve pressure on domestic fuel prices.
On insecurity, Osifo asked the government to provide security agencies with adequate resources and equipment while taking more decisive action against terrorism and banditry. He offered condolences to families of personnel killed in recent incidents, including the Ondo military aircraft crash.
The union also condemned the reported deaths of about 37 people in the custody of the Nigeria Security and Civil Defence Corps in Niger State. While acknowledging the government’s establishment of an investigative committee, Osifo demanded that its findings be acted upon and that anyone found responsible face the law. Responsibility for the deaths remains subject to investigation.
Turning to workers’ welfare, Osifo said the TUC expected federal and state governments to begin discussions on a new minimum wage no later than February, ahead of the expiry of the current wage framework. He also requested interim adjustments to allowances and wage awards.
The congress backed industrial action by the Joint National Council of federal workers and warned that it could join an escalation if outstanding disputes were not resolved. On the Joint Health Sector Unions’ grievances, Osifo said the TUC would write to the Coordinating Minister of Health and Social Welfare seeking prompt intervention.
The congress said stronger economic indicators must ultimately translate into affordable essentials, improved wages and safer communities.
