The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to negotiate with the Nigeria Labour Congress (NLC) on its demands on the cashless policy as well as hike in fuel prices.
The President of NLC, Joe Ajaero on March 22, directed public sector workers in the country to embark on strike over the lingering cash crunch and the pricing irregularities in the petroleum sector.
Ajaero also directed that affiliate unions constituting the NLC should be on standby for picketing exercises across all branches of the CBN, nationwide, durimg the strike which is expected to begin from Wednesday, March 29.
But, Dr Okwara Udensi Edo/Delta Chairman of MAN, during an interview with NAN on Thursday in Benin, said embarking on strike was not the best option as it would compound the existing sufferings.
Udensi said “For us as manufacturers, strike is not the best option, negotiation is the best thing so that we will not suffer more of what we are already suffering.
“Embarking on industrial action will ground our businesses; road transport workers might join the strike and this will cripple our activities.
“But unfortunately, it seems strike is the language the government understands. I read on the news this morning that the CBN says from today, it will mop up the old N500 and N1000 notes to commercial banks.
“Must people tell them they want to go on strike before they mop up cash to banks?.
He regretted that the manufacturing sector had continued to witness high cost of production, a situation that is not good for economic development.
“We now buy diesel for between N820 and N830 per litre, how many litres of diesel will you buy to run your generator to produce?
“Raw materials we used to pay between N350,000 and N400, 000 to convey from Jos to Benin City last year is now about N800,000 as of today.
“Business is no longer lucrative, profit margin has been swallowed by the high cost of production.
“Customers are not ready to buy at higher prices; manufacturers are just selling to start afloat’, he explained.
