Written by SpringnewsNG Media Limited

June 5, 2025 — The Nigeria Labour Congress (NLC) has delivered a scathing assessment of President Bola Tinubu’s administration, marking its second anniversary with strong criticism over rising poverty, economic instability, and deteriorating living conditions across the country.

In a statement released by NLC President, Joe Ajaero, the organization declared that the promises of economic reform and renewed hope have instead led to increased hardship for Nigerian workers and the general population.

“When President Tinubu assumed office on May 29, 2023, he pledged bold reforms to rescue Nigeria from fiscal decline. Two years later, the only bold result is the scale of suffering his policies have caused,” Ajaero said.

The labour leader pointed to the removal of the petrol subsidy as a key catalyst for economic hardship, noting that fuel prices spiked overnight from ₦187 to over ₦600 per litre. This move, he said, triggered a domino effect across the economy, fueling inflation, closing businesses, and drastically eroding workers’ purchasing power.

“Instead of recovery, we’re seeing skyrocketing food prices, unaffordable transport, and families skipping meals. Businesses are shutting down, while workers’ wages are practically worthless,” Ajaero added.

He further criticised the government’s floating of the naira, saying it has led to a severe currency devaluation, making local industries uncompetitive and pushing more Nigerians into poverty. The NLC claimed over 150 million Nigerians are now classified as multidimensionally poor, with SMEs facing inflation rates above 150% for production inputs.

“We’ve seen this IMF-scripted model before: remove subsidies, float the currency, and promise future prosperity. It never works. Tinubu’s version has only deepened inequality, increased poverty, and intensified public frustration,” Ajaero said.

The NLC also decried what it described as a hostile stance towards labour unions, citing harassment of union leaders, disregard for court orders, and the non-payment of wage awards promised by the federal government.

Although the government has introduced compressed natural gas (CNG) buses as a palliative transportation measure, Ajaero called the initiative “grossly inadequate,” especially given Nigeria’s underdeveloped gas infrastructure.

“This has been two years of broken promises, deepening poverty, and growing discontent. There’s nothing to celebrate—only a call for urgent economic justice and accountable governance,” he concluded.