Government policies and devaluation of the naira are responsible for the worsening cost of living, the Trade Union Congress (TUC) has said.
In a communiqué issued at the end of its 2025 Q1 National Administrative Council meeting held in Abuja, on Thursday, TUC President, Festus Osifo, maintained that the devaluation of the naira was the root cause of the escalating prices of goods.
The inflation rate in Nigeria topped 34.8 per cent in December 2025.
Osifo, reading the position of the union, said: “The NAC of TUC thoroughly examined the root cause of the persistent increase in the prices of goods and services across the country. It reaffirmed the conclusion it reached over a year ago. In February 2024, the TUC addressed a world press conference, where it clearly stated that the excessive devaluation of the naira was the primary cause of rising inflation and the continuous increase in the prices of goods and services.
“The Congress also warned that this trend would worsen inflation in 2024, impacting virtually every sector of the economy and severely affecting the social and economic well-being of Nigerian workers and the masses if the solutions it canvassed were not adopted.”
TUC insisted that while it remains focused on making suggestions aimed at addressing the root cause of the economic challenges confronting the country, it demands a better foreign exchange management regime from the Central Bank of Nigeria (CBN), saying the naira is currently undervalued.
TUC has urged the Federal Government to fix the roads that it intends to roll.
It insisted that tolling the roads without fixing them was not acceptable to the organised trade movement.
The central labour organisation also faulted the proposed 65 per cent increase in electricity tariffs, saying, “It is alarming that the government is considering this hike when the previous increment has already inflicted severe hardship on citizens. This proposed increase is not only ill-timed but also a deliberate act of economic oppression against Nigerians, who are already struggling under unbearable economic conditions.”
TUC stated that the improved service quality promised during the last tariff hike specifically for consumers under the ‘Band A’ category has not been realised.
