TUC denounces 2024 budget as favouring elite, neglecting wider population

In a press release issued today, January 04, 2023, President Comrade Festus Osifo and Secretary General Comrade Nuhu Toro expressed disappointment, underscoring the budget's total allocation of ₦28.7 trillion.

The TUC leaders argued that despite this substantial figure, the provisions fall short of addressing the critical economic challenges faced by ordinary Nigerians.

A primary concern raised by the TUC was the allocation of ₦8.25 trillion for debt servicing, a move they deemed inadequate in addressing the pressing needs of the citizens.

The Congress criticised the budget's disproportionate focus on recurrent expenditure at ₦9.92 trillion compared to capital expenditure at ₦8.7 trillion, contending that this imbalance hinders economic growth and poverty alleviation.

“The budget’s structure seems tailored to serve the interests of the ruling class, neglecting the pressing needs of the wider population,” emphasised the TUC's release.

Highlighting concerns about the economic struggles faced by ordinary citizens, the TUC condemned the lavish displays of wealth by some members of the political class.

They pointed to the high unemployment rate, pervasive poverty, and associated social and security risks as urgent issues requiring immediate attention.

The TUC's statement called for a shift in policy focus, urging immediate measures to address inflation, currency devaluation, high fuel prices, and the nation’s overreliance on imports. Furthermore, they demanded stricter measures to curb unnecessary government loans and frivolous spending by officials.

Stating the necessity for implementing labor agreements, the TUC advocated for the prompt payment of the ₦35,000 Wage Award to public servants and a comprehensive review of the national minimum wage.

The Congress concluded their statement by urging the government to prioritise the welfare of the broader population over the interests of the ruling class.