Federal Government explains plea to banks not to sack workers

The Federal Government on Wednesday said its recent appeal to banks not to sack workers was based on the conviction that by the time the economy picks up, the banks would need the workers again.

The Minister of Budget and National Planning, Senator Udo Udoma, said this while answering questions after briefing State House correspondents of the outcome of the Federal Executive Council meeting presided over by Vice-President Yemi Osinbajo.

Udoma was joined at the briefing by the Minister of Information and Culture, Alhaji Lai Mohammed.

He said the government was convinced that the economy would still pick up and the banks would need the workers again.

He said, “With regards to the plea to the private sector (not to sack workers), it is because we know that by the time the economy picks up, they will need those people again‎.

“We know the economy is going to pick up and we are confident about that. That is because of our plan, the plan was conceived because we knew that this was the trajectory we will move into.

“I will give you an indication of some of those things in the plan. For agriculture for instance, we plan to be self sufficient in rice within a certain number of years, in wheat within a certain number of years.

“Indeed the Vice-President has just set up a task force headed by ‎the governor of Kebbi State to realise that. So we are implementing the plan one by one.

“We have a plan to move this country up 20 places in the ease of doing business, we are working on that.

“We want to stimulate the private sector because we know that even the spending by government alone will not be sufficient, we also need to have policies that will encourage the private sector.”

The minister faulted the speculated impending sack of workers in para-military organisations, saying that it is the position of the present administration that it would not retrench workers.


Credit: Punch