Labour Links High Inflation To Continuous Importation

The National President of Precision Electrical and Related Equipment Senior Staff Association(PERESSA), Comrade Rufus Olusesan, said government has continue to make the economy to be import-driven, which is also crucial to the current inflation.

“As long as the high taste of our ruling and political elites are out to get the latest manufactured vehicles, as long as they have high taste for importation of products, inflation will continue to rise

“Imagine the God-given petroluem products we carrying crude oil out and bring back refined products. Another effect is that value of naira has been reduced whereby the law of demand and supply is playing out today. This another reason why inflation is biting every one as huge sums of naira and dollars are chasing few products. Purchasing power of salary earners have been reduced to nothing. In fact, Nigerians are being subjected to untold hardship, they are suffering in the midst of plenty,” said Rufus.

Likewise, Comrade Innocent Ogbonna said inflation is like subjecting Nigerians into war-torn zone because government has failed.

Futhermore, Ogbonna said: “ War torn country, Ukraine is in better condition today because they are getting food and other amenities supplies to them. But in Nigeria, you are on your own, no government is concerned about the welfare of the masses.

“Even during COVID-19, other countries sustained their people by supplying food and other things to them, but in Nigeria, the political class went to hide what should have been for the benefit of the masses.

“Inflation is biting hard on us because we depend too much on importation of virtually every need even to the extent of importing back the fuel which God gave us freely. As long as we are import-driven economy, then inflation will continue to bite. No electricity, nothing is working. What are we benefiting from this government is continued hike of fuel price etc.”