The Trade Union Congress of Nigeria, TUC has called on the Federal Government to implement a 50% reduction in taxes on manufacturing companies and workers as part of urgent measures to ease the growing economic hardship facing Nigerians.
In a communiqué jointly signed by TUC President, Festus Osifo and Secretary General, Nuhu Toro at the end of the union’s national executive council meeting, the TUC stressed that high taxation, combined with rising inflation, energy costs, and exchange rate pressures, have significantly increased the cost of living and weakened productivity across sectors.
While expressing concerns over the impact of the Iran-US conflict on the Nigerian economy, particularly in energy pricing, supply chains, and inflation, the labour centre observed that despite Nigeria’s oil-producing status, citizens continue to suffer from rising fuel prices and associated costs.
The TUC called on the government to treat the situation as both a foreign policy and domestic economic emergency, urging immediate steps to protect Nigerians abroad, strengthen local refining capacity, and ensure transparency in the use of additional oil revenues.
The TUC also raised alarm over worsening insecurity across the country, describing it as a major economic and labour crisis, noting that persistent violence including kidnappings, banditry, and farm invasions has disrupted livelihoods, reduced food production, and forced businesses to shutdown.
(Editor: Terverr Tyav)
