The Nigeria Labour Congress (NLC) has delivered a scathing assessment of President Bola Tinubu's first two years in office, declaring that Nigerian workers and citizens have experienced "no gains but only pain and misery" since his administration began.

NLC President Joe Ajaero, in his evaluation of the administration's performance, stated that there has been nothing to celebrate since the government took power on May 29, 2023.

Failed Promises and Economic Hardship

"When President Bola Tinubu took office, he promised a new dawn, bold economic reforms that would rescue Nigeria from fiscal instability and set it on a path to prosperity," Ajaero said. "But two years later, the only thing bolder than his rhetoric is the magnitude of suffering and hardship his policies have inflicted on workers and ordinary Nigerians."

According to the labour leader, the administration has "recycled the same failed neoliberal experiments of the past," comparing the economic policies to "prescribing the poison that made them sick in the first place."

Fuel Subsidy Removal and Its Impact

The NLC highlighted the sudden removal of the petrol subsidy as a particularly devastating policy that sent shockwaves through an already fragile economy. This decision caused fuel prices to skyrocket from N187 to over N600 per litre overnight.

"Instead of reinvestment, Nigerians got inflation so vicious that families now skip meals, businesses shut down daily, and transport costs consume what little remains of workers' wages," Ajaero stated.

Currency Devaluation and Economic Decline

The labour leader also criticized the government's handling of the naira, noting that the currency, "left to the so-called 'market forces,' has collapsed in value, turning Nigeria into a bargain basement for neighbouring countries, while local industries suffocate under the weight of imported inflation."

Ajaero expressed frustration that these economic approaches have been tried before with similar negative outcomes. "We have seen this script before—subsidy removals, devaluations, and IMF-approved austerity, each time sold as the bitter pill Nigeria must swallow for a brighter future. But when has it ever worked?"

Workers' Plight and Government Response

The NLC president painted a grim picture of the current situation for Nigerian workers, stating that they have seen their "real wages obliterated" while pensioners and small businesses face over 150 percent inflation in inputs. He claimed that 150 million Nigerians are now "multidimensionally poor."

The labour movement also accused the government of intimidation and harassment of labour leaders and trade unions, flagrant disregard for court orders, and the criminalization of union protests and actions.

While acknowledging the government's provision of compressed natural gas (CNG) buses to ease transportation for workers, Ajaero described this effort as "grossly inadequate" and "hampered by severe gas infrastructure deficits."

The NLC also noted that wage award arrears at the federal level remain unpaid despite repeated promises from the government.