LABOUR FG told to reinvest recovered funds on economy

The Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) has urged the federal government to reinvest funds recovered from corrupt public office holders into the already moribund economy.

The group, noted that by so doing, the infrastructural development of the country would improve.

This was contained in a communiqué issued at the association`s NEC meeting held in Abeokuta, signed by its President-General, Muhammad Yunusa and acting Secretary, M.O Abogonye respectively

The association also urged the federal government “to look into the loss and constant fear of further loss of jobs currently going on in Intels/ AMS and Nokia due to redundancy, merger, acquisition, and reorganization in these organizations.’’

The communiqué reads in part: “NEC in session took a critical look at the on goings in the Nigerian economy and its eventual impact on Nigerians, particularly workers. The federal government should take immediate and concrete steps to reposition the Nigerian economy with a view to reducing the present hardship being experienced by the populace.’’

It noted that the high rate of poverty in the country has resulted in human trafficking and kidnappings, advising the federal government to explore the agro-allied and solid minerals that abound in the country to bring about a quick economic recovery and food security.

“NEC in session observed that electricity generation and distribution in the country have not improved. More companies and entrepreneurs are still folding up and relocating to other countries while investors are not encouraged to invest.

“Government should explore other available sources of power generation from solar, wind and thermal energy to lift Nigeria from this quagmire,’’ it said.