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Losing 11,000 Atiku's workers will send wrong signals to international investors

Is it true that corruption is everywhere?
By IssaSaliu | | +2348033505422 

Unemployment is defined as people who do not have a job and also people who were temporarily laid-off could be consider as unemployment apart from the people who are voluntarily retired from the active service. Recently, the Federal Government marginally wants to put over eleven thousand former Vice President, Atiku Abubakar's workers in labour market just for political reason without thinking of the consequences of massive unemployment the will caused the workers.

The federal government decided to take the bad step simply because the founder of the company signify his intention to vying for presidential come 2019 in opposition party. The government failed to have a rethink on the consequences can lead to the economy harmful if unemployment rises because when many people are unemployed, the economy will loses one of its key drivers of growth. The affected people will have less money to spend until they find another job. If high national unemployment continues, it can deepen a recession or even cause a depression. That's because unemployed workers consumed less thereby reduces business revenue, which forces companies to cut more payroll to reduce their costs.

Many economists think the recession permanently increased the natural rate of unemployment. Last week. Maritime Workers Union of Nigeria has advised the Nigerian government to resolve its issue with Intels Nigeria​, a company co-owned by former Vice President, Atiku Abubakar. Government had directed the Nigerian Ports Authority (NPA) to terminate the boats pilotage monitoring and supervision agreement that the agency has with Intels.

It baffled my mind when I red in a national daily that NPA is on the process to terminate the contract with the oil and gas logistics giant​ on​ its alleged refusal to get on the​ Treasury Single Account (TSA​) platform. The Intels’ closure will not only throw thousands of workers into the labour market, but also adversely affect their families and other dependents. Am aware that Intels has over 5,000 direct employees and over 6,000 indirect employees, which makes it up to 11,000 workers. I realized that most of these employees are Nigerians with families and responsibilities.

I particularly disturbed on socio-economic implication of most of the workers losing their jobs in a volatile area like Rivers State that would have a negative impact and am urging the government to resolve the issue amicably for the benefit of all. I am not confortable over the negative message the contract cancellation would send to both local and international investors. I want to advice the government to avoid anything that will send wrong signals to investors that Nigeria’s environment is not safe and conducive for business.

Losing 11,000 Atiku's workers will send wrong signals to international investors Reviewed by Unknown on October 23, 2017 Rating: 5

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