The Trade Union Congress (TUC) has warned that it will embark on a strike if telecom tariffs are increased by 50%, citing concerns over the impact of foreign exchange fluctuations on service costs.
News360 Info reports that TUC President, Comrade Festus Osifo, made this declaration during an interview on Channels TV’s Politics Today on Thursday.
While acknowledging the rising operational costs incurred by telecommunications companies, Osifo argued that the core issue lies in foreign exchange mismanagement.
“If you know what the root cause of the problem is, why would you start looking at the symptoms? So, all the increments that we are seeing today are symptoms of the FX mismanagement,” he said.
He emphasized that the devaluation of the naira has negatively affected multiple sectors of the economy, leading to widespread price hikes.
Osifo disclosed that the Nigeria Labour Congress (NLC) has already met to discuss the matter, while the National Executive Council (NEC) of the TUC is expected to decide on the next course of action.
He urged the government to address the root cause of foreign exchange instability rather than pass additional costs onto consumers.
“So, all we are asking is that let us sit down, let us look at how we can go back to that root cause because we strongly believe that if that root cause is addressed, there is no need for these symptoms to prop up,” he added.
When asked whether the TUC would proceed with strike action if the federal government fails to intervene, Osifo responded unequivocally: “Yes. Correct.“
