CANMPSSAN President Decries Effects of Inflation Rise on Industrialists

 

 

By Afusat Agunbiade-Oladipo

Comrade Segun Bello, the President of the Chemical and Non-Metalicc Products Senior Staff Association of Nigeria (CANMPSSAN), has lamented the effects of inflation rise on industrialists.

Bello asserted on Monday at the Opening Session of the 28th Annual National Management/Industrial Relations Seminal held at De-Peace Hotel, Tanke Area Ilorin.

He said the situation around a typical Nigerian worker is beyond abnormal and the take-home of every worker cannot take them to the company gate.

He added that the employers are
struggling to adapt to the unfavourable policies of the government.

According to him, the cost
and the case of doing business is getting unbearable by the day.

“This year’s seminar themed: “Creative and Innovative Strategies to Manage Workers Expectations and Reality: in a
Challenging Economy”.

“As at the last coùnt, a dollar is above a thousand naira.

“Manufacturing industries depend solely ‘on forex to survive, the fluidity in the forex market is yet to yield any positive result,
rather things getting worse.

“Employees are expected to be democratic in advocating for their rights before their
employers

“Nigeria depend on importation to
survive, the high exchange rate in Nigeria, as of September 2023 reached an 18-year high of 26.7 per cent.

“The removal of fuel subsidy
attributed also to the high inflation rate prices of food jumped to 30.6 per cent high sensation to 27.2 per cent, housing and utilities to 22.5 per cent and miscellaneous goods and Services rose to 21.99 per cent respectively.

“There is no essentials of life that has not been touched; food, housing, transport, electricity, clotting, maintenance, education, health, recreation and communications”, the President said.

He explained that based on the analysis above, we need to strategize on how we can meet expectations in the face of dwindling incomes and understand the ground.

“With the arrays of able and capable resource persons lined up for this programme. I have no fear that the course topics will be adequately enumerated to equip us for the challenges ahead.

“I want to urge all participants to pay rapt attention to all the details that will be dished out by the seminar instructors”, Bello said. (NAN)
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