The Trade Union Congress (TUC) has urged the Federal Government to prioritize slashing the cost of governance, noting that it will help save more money for the government to tackle other needs.
The TUC President, Festus Osifo, made this known while speaking as a guest on Channels Television’s Sunrise Daily on Friday.
The trade union leader added that the money saved from the removal of fuel subsidy should be harnessed to take care of the most vulnerable Nigerians.
“The government have 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 460 naira to a dollar. But today, it is going to be about 700 naira 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.
Osifo however, expressed optimism that the labour union will not lose grip of their demands to FG saying, “We know we cannot get all the 100% demand negotiation, we know our minimum set point.”
Adding that the Labour union and Federal government would continue with the negotiations effectively on June 26.