The Federal Government has been advised to cut the cost of governance to meet the demands of the Labour union concerning palliatives over the removal of fuel subsidy.
President of the Trade Union Congress (TUC), Festus Osifo made this known during a chat on Channels Television’s Sunrise Daily on Friday.
Osifo urged the government to prioritise cutting down the cost of governance in the country.
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He said the Union is very aware that not all its demands from the government would be met, but it won’t lose grip of its negotiation with the government.
Osifo led this out while making reference to the campaign promises of the current administration said in their campaign promised an increase in revenue generation and the growth of the country.
He said: “The government has told us that they are going to save a massive amount of money when the subsidy is removed. So, part of this money should also go to taking care of Nigerians, especially the vulnerable.
“Crude oil is being sold in dollars (USD); when they were repatriating the money before now, the exchange rate was around N460 to a dollar. But today, it is going to be about N700, which means that there would be much more naira available to the government.
“More importantly is that, as a government, they must be creative. As a government, they must be innovative; they must put on their thinking cap and be able to grow the revenue of the country.
“We know we cannot get 100 per cent of the demands (in the) negotiation; we know our minimum set point.
“If the cost of governance is reduced, they would be able to save some money from that and if they do all these other things we have said, we believe that funds will be available.”
