ORGANISED Labour on Wednesday raised alarm that the food, beverage and tobacco sector of the nation’s economy was on the verge of shutting down and that over three million jobs were at risk due to the inability of companies to source foreign exchange for raw material importation to facilitate operations. Already leading companies in the sector, such as Nigerian Flour Mills, NFM, Nigerian Breweries Limited, NBL, Guinness Plc, Nigerian Bottling Company, NBC, 7 UP Bottling Company Plc, Friesland Campina Wamco Plc, among others, have written to labour for discussions on retrenchment of workers. In the last three months, no fewer than 1, 500 workers have been sacked in the sector as employers seek ways of coping with foreign exchange crisis, among others. At a briefing in Lagos, leaders of Food, Beverage and Tobacco Senior Staff Association, FOBTOB, called on government to intervene to save the industry and over three million jobs. President of FOBTOB, Quadri Olaleye, claimed that employers in the sector had devised every opportunity to sack workers, decrying that between the 2012 and the first half of 2015, over 3,000 workers were sacked on the guise of re-engineering, restructuring, right sizing, downsizing, redundancy, re-organisation, etc. He lamented that over the years, the same excuse of difficult business terrain, dwindling profit, irregular and insufficient power supply, and so on had been given. He said: “The current situation has reached a pathetic level, because it seems all the employers in our sector are in competition with each other on who can lay off the most workers. ”Every company is now calling for a downsizing of the workforce, and this time under the guise of lack of foreign exchange due to the federal government’s recent policy on foreign exchange. ”We are aware that not all the raw materials used in our industry can be sourced locally. Where they can be found, they are mostly not available in commercial quantity. That is why it is imperative that the federal government, through the Central Bank of Nigeria, CBN, takes a second look at the policy on foreign exchange again to avoid shutting down the companies in our industry.” Olaleye insisted that the union was disturbed that workers in the sector were gradually being turned to endangered species.

Read more at: http://www.vanguardngr.com/2016/03/nbl-guinness-nbc-7up-flour-mills-wampco-others-sack-workers/

This is 1984 happening all over again ....Buhari has reallly lost control of the Economy and he has proved to be an Economic Assassin.

sosanova:
The is 1984 happening all over again ....Buhari has reallly lost control of the Economy

The man was unlucky to come in when things started going haywire.
For the record,note that PMB is NOT responsible for this sorry state previous administrations have put us in.

The only thing PMB can be accused of right now is not constituting a solid economic team.

phantom:

The man was unlucky to come in when things started going haywire.
For the record,not that PMB is NOT responsible for this sorry state previous administrations have put us in.
The only thing PMB can be accused of right now is not constituting a solid economic team.

Abeg blame him for everything..he has lost control, he has dreamt of presidency for years. he finally got it and yet doesn't know where to start from.

phantom:

The man was unlucky to come in when things started going haywire.
For the record,not that PMB is NOT responsible for this sorry state previous administrations have put us in.

The only thing PMB can be accused of right now is not constituting a solid economic team.

Story
Zombies will keep on blaming past administrations for Buhari inability to manage the economy.
During election Campaign, Buhari and APC promised Nigerians, they would generate millions of Jobs, but now we are seeing the opposite, millions of jobs have been lost under 9 months and millions of more jobs are about to be lost in the Second quarter of this year.The rate of job loss under Buhari both in 1984 and 2015/2016 is alarming.
Buhari was unlucky in 1984 when things went haywire?
Buhari was unlucky again in 2015/2016 when things went haywire ?

U are a nothing but a Chinese made Zombie

When will people start seeing things as they are? This is terrible, horrible, a national disaster.

What a govt

a very bad news i must say. where will they start from? that's one good reason i can not be tired of talking about entrepreneurship. even if you are gainfully employed, always have a small business as a back up please. all is well.


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