Thousands of Nigerians started a rally on 27 February , against soaring living costs as the ongoing economic crisis leaves many struggling to afford food. Demonstrators hoped nationwide protests called by the Nigeria Labor Congress (NLC) umbrella union would pile pressure on the government, which brought in reforms last year that have had a devastating effect on citizens of Africa’s biggest economy. In response to this , the federal government of Nigeria promises seccour amongst which the 15th agenda of the Memorandum of Understanding given between government and labor are being tackled.
A protest kicked off in Nigeria’s commercial hub of Lagos on february 27th and other locations nationwide followed. One of the country’s main unions, the Nigeria Labour Congress (NLC), has called workers to demonstrate outrage on the mounting hardship and insecurity. Nigerians are living through one of the West African nation’s worst economic crises in years triggered by surging inflation and the consequences of monetary policies that have pushed the currency to an all-time low against the dollar. Nigeria’s central bank delivered its largest rate hike in absolute terms in around 17 years on Tuesday to tame soaring inflation, amid nationwide trade union protests over price rises that have left people struggling to meet their basic needs.
“Open all food storage silos and ensure equitable distribution across the country.The trade union umbrella NLC is calling on the government to abandon World Bank and IMF policies which we believe are adding to hardship in Nigeria. We may not wait any longer”
Emeka Tchizo, Member of NLC – Nigeria
The government pleads with citizens to be patient as the nation faces an economic slump. The National Assembly has promised succor as Nigerian workers and members of some civil society organizations, on Tuesday, trooped out across the country to protest the economic hardship in the country.Already the 15th agenda of the Memorandum of Understanding given between government and labor are being tackled. The last issue that is in place is the issue of minimum wage and negotiations are going on.
The issue is about bringing solutions to the suffering and yearning of Nigerians. We are at a critical period in which Nigeria is taking a decision that would be of economic advantage. So our plea is for the union to reason with us , understand with us. There is no need for violence and we want to stop this surge. But steps must be taken
Diket Plang , Chairman of Senate Committee on Labour – Nigeria
In October 2023, government labor unions reached a deal with the government to end strikes in return for monthly stipends and subsidies to cushion the blow of the new policies. Still, the unrest continued.The inflation rate reached a three-decade high of almost 30 percent in January, according to the national bureau of statistics. Laborers vouch to reschedule several riots if their conditions are not met .