THE Trade Union Congress (TUC) has frowned on the level of external borrowings by the Federal Government and warned that the future of the country should not be mortgaged.

The union also told government to look inwards to harness the country’s natural endowments and raised alarm over the rising cost of living in the country.

According to the union, such a development has eroded the importance of National Minimum Wage, which some states are yet to implement.

National Treasurer of TUC, Mohammad Yunusa, stated this in an interaction with journalists in Abuja on the sidelines of the Central Working Committee meeting at the weekend.

Yunusa, who is also the President-General of the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC) said  members of the association condemned in strong terms the spate of kidnappings and the unbridled abductions of school children, students in tertiary institutions and travelers on Nigerian roads.

In the communiqué  jointly signed with General Secretary of SSASCGOC, Ayo Olorunfemi, the labour group called on the government to look for ways of improving the general welfare of the entire citizens of the country and the Nigerian workers.

The group said: “CWC in session is alarmed at the rising cost of living in the country that has made minced meat of the National Minimum Wage, which some States are yet to implement.

“CWC in session vehemently detests the heavy Government External Borrowings to avoid mortgaging the future of Nigeria. We call on the government to look inwards to harness the country’s National/Natural endowments.

“The bane of corruption in the society has assumed a hydra-headed level as the future of Nigerians yet unborn is being mortgaged. Where public institutions are looted and monies recovered are not properly accounted for.

“Therefore, the federal government of Nigeria and all citizens must genuinely confront and defeat corruption through deterrent penalties.”
The CWC in session also frowned on the incessant threat to national unity by centrifugal and secessionist agitations.

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