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Business News of Sunday, 3 September 2023

Source: legit.ng

'Total Shut Down': Banks, electricity, telecoms, other critical sectors joining planned NLC strike

File photo to illustrate the story File photo to illustrate the story

The Nigerian economy might be brought to its knees from Tuesday, September 5, 2023, as the Nigerian Labour Congress (NLC) embarks on a Nationwide strike to protest the high standard of living, which they say is caused by the removal of the petrol subsidy.

The labour union notified the Nigerian government of a warning strike last week. Negotiations are ongoing.

In the past, labour strikes in the country have been characterised by the lack of air, land, and sea transportation, but feelers from NLC indicate that the strike would total this time.

According to a Vanguard report, essential sectors of the economy and 52 other affiliates of the NLC have beefed up plans and mobilised its members ahead of the two-day warning strike.

Analysts believe the Nigerian economy will lose trillions of naira if the strike is held.

Among vital unions are those considered the nerve centre of the economy, such as the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), which controls petrol distribution.

Others are the National Union of Electricity Employees (NUEE), the Private Telecommunications and Communications Senior Staff Association of Nigeria (PTECSSAN), and the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), controlling junior staff in the financial sector.

Others are the Maritime Workers Union of Nigeria (MWUN), National Union of Air Transport Employees (NUATE), Association of Nigerian Aviation Professionals (ANAN), National Association of Air Pilots and Engineers (NAPE), National Union of Food Beverage and Tobacco Employees (NUFBTE), The National Union of Chemical, Footwear, Rubber, Leather and Non-Metalic Products Employees (NUCFRANMPE), among others in the manufacturing industry.

Some of the unions have acknowledged receiving circulars from NLC concerning the strike.

Others said they would formally inform their members on Monday, September 4, 2023.

The maritime workers' union acknowledged the receipt of the circular from NLC and stated that they would comply with the directives of the Joe Ajaero-led labour union.

Other unions in the critical sectors of the economy revealed their willingness to join in the warning strike.