Edo State Governor Warns of Looming Economic Crisis in Nigeria

Edo State Governor, Mr. Godwin Obaseki, has issued a warning about a potential economic crisis in Nigeria.

Speaking during the 2023 May Day celebration in Benin City, Governor Obaseki said that the Federal Government may not be able to pay workers’ salaries beyond June 2023 without resorting to measures such as massively printing money or removing fuel subsidy.

The Governor, who addressed the theme of the celebration, “Workers’ rights and socio-economic justice,” urged workers in the country to hold the government accountable for its policies and programs.

He also charged workers to champion discussions on subsidy removal, insisting that the burden and pain of such measures must not be carried by workers alone.

Governor Obaseki reaffirmed his commitment to the welfare of workers in Edo State, noting that they are currently the best-paid workers in Nigeria.

He promised to match the federal government’s minimum wage and hand over a cheque to state workers the day the federal government is able to pay its new minimum wage.

The Governor added that Edo State currently does not owe arrears of promotion, as he has approved the promotion of all staff for 2022.

He acknowledged the contributions of workers to the growth and development of the state, hailing them as the unsung heroes of society and the engine that powers the economy.

Governor Obaseki’s warning about a looming economic crisis in Nigeria comes amidst growing concerns about the country’s economic outlook. With declining oil prices, inflation, and rising unemployment, Nigeria’s economic prospects have been uncertain in recent times.

However, the Governor’s commitment to prioritizing workers’ welfare and implementing reforms could help mitigate the impact of any economic downturn.