Naira Crash Sparks Telecom Tariff Surge: TUC Threatens To Shut Down Nigeria

Naira Crash Sparks Telecom Tariff Surge: TUC Threatens To Shut Down Nigeria

The Trade Union Congress (TUC) has issued a stern warning to the Federal Government, threatening to initiate a nationwide strike if telecom tariffs are increased by 50%. The TUC cites the ongoing foreign exchange (FX) instability as the root cause of rising operational costs in the telecommunications sector……READ MORE 

According to Irerporteronline, TUC President Comrade Festus Osifo voiced these concerns during an appearance on Channels TV’s Politics Today on Thursday. While acknowledging the operational challenges faced by telecom companies, Osifo argued that FX mismanagement is the underlying issue causing price hikes across multiple sectors.

“If we know the root cause of the problem, why focus on the symptoms? These tariff hikes are direct results of FX mismanagement,” Osifo stated. He emphasized that the naira’s devaluation has worsened economic conditions, contributing to widespread inflation.

Osifo revealed that the Nigeria Labour Congress (NLC) has already convened to discuss the tariff hikes, and the National Executive Council (NEC) of the TUC will soon determine their next steps. He urged the government to address the FX crisis instead of shifting the burden onto consumers.

When asked if the TUC would follow through with a strike should the federal government fail to intervene, Osifo responded emphatically: “Yes. Correct.”

The TUC’s stance adds to growing labor tensions amid Nigeria’s ongoing economic challenges, with unions demanding immediate action to stabilize the naira and protect workers from further financial strain.