2025: MAN, ASUU, Local Unions Demand Immediate Economic Action from Tinubu

As the world prepares to welcome the New Year, various stakeholders in Nigeria, including those from the manufacturing, academic, security sectors, local government unions, and the Ijaw National Congress, have called on President Bola Tinubu to take steps toward improving the economy in 2025.

While acknowledging the challenges of 2024, which they described as “tough” and “difficult,” these groups expressed hope that the coming year would bring positive change for Nigerians.

Reflecting on the manufacturing sector’s struggles in 2024, Segun Ajayi-Kadir, Director-General of the Manufacturers Association of Nigeria, emphasised the need for significant reforms to spur growth.

EKO HOT BLOG reports that he stressed the importance of fully implementing fiscal policy and tax reforms, urging the National Assembly to pass these measures in the upcoming year. He also called on the Central Bank of Nigeria to stabilize interest rates and address the N2.4bn forex forwards owed to manufacturers.

Ajayi-Kadir further stated the necessity for an expansion of government credit facilities, noting that while the initial N75bn disbursed was a positive start, the promised N1tn in the stabilisation plan should be fully realized to support businesses.

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He also urged the government to tackle inflation, particularly by reducing logistics costs, and to improve coordination between fiscal and monetary policies to promote sustainable growth.

Prof. Emmanuel Osodeke, President of the Academic Staff Union of Universities (ASUU), called for a focus on creating a conducive educational environment in 2025.

He lamented that students are now burdened with loans, unlike previous generations that benefited from free education and bursaries. He warned against converting the Tertiary Education Trust Fund (TETFUND) into a loan scheme and suggested reducing the high costs of governance, such as unnecessary foreign travel.

Mohammed Abubakar, Secretary-General of the Association of Local Governments of Nigeria, urged President Tinubu to initiate local government autonomy in 2025. He thanked the president for approving financial autonomy for local governments but emphasized the need for immediate implementation to alleviate hardship at the grassroots level.

Akeem Ambali, National President of the Nigeria Union of Local Government Employees, echoed this sentiment, stressing that true development can only occur if local government autonomy is implemented in 2025.

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Dr. Kabir Adamu, security consultant and CEO of Beacon Consulting, called on the president to ensure the security of Nigerians’ lives and property, in line with Section 14, Subsection 2 of the Constitution.

Meanwhile, National Publicity Secretary Ezonebi Oyakemeagbegha painted a grim picture of Nigeria’s economy in 2024, describing it as a year of immense sacrifice for Nigerians.

He urged President Tinubu to address the high cost of fuel by reducing the pump price to N416 per litre, citing the country’s ample crude oil resources. He also highlighted the need to strengthen the naira and improve the currency’s competitiveness against the dollar.

Oyakemeagbegha further called for a more stable power supply, which would allow small businesses to thrive without constant disruptions, and urged international oil companies to relocate their headquarters to the regions where they source their raw materials.

Here is the video of the week