FOBTOB tasks Tinubu-led FG to unify FX market, speedily form cabinet

By Joy Obakeye

National President of the Food, Beverage and Tobacco Senior Staff Association (FOBTOB), Jimoh Oyibo, has urged the incoming government of Bola Tinubu to ensure that the country’s foreign exchange windows are unified, easily accessible and without favouritism.

Speaking with the executive members of the Labour Writers Association of Nigeria (LAWAN) in Lagos. Oyibo maintained that the industry is sharply divided owing to the disparity between the official and parallel market rates.

Stressing further, he urged the president-elect to be at speed with the appointment of his cabinet for sustained growth and development.

“The incoming president should strive to reconcile the country because, from the look of things, we all are sharply divided. If we don’t, it will affect us as a nation. The incoming president has the task of uniting us as a nation. There is a need to come up with a new constitution to restructure the system. He should not hesitate to give technocrats appointments, even if they are from another political party and those that fail to deliver on their job should be replaced.”

Speaking on the country’s debt, the union boss explained that the essence of borrowing is to stimulate the economy and it is expected that such borrowing can pay back that loan.

“In Nigeria’s case, it is not so. Different issues would arise regarding how they were misused. It means our leaders are not even aware in the first place of what they are going to do for the citizens. You find in some cases where some individuals are richer than the country itself. Few individuals are packing these monies to the detriment of the Nigerian populace. This is the reason we should have a responsible and accountable government. The incoming administration should be answerable to the people and ensure that monies taken away must be brought back.”

Stressing further, he noted that creditors and multilateral lenders are also accomplices to the problem of this country.

“When you are lending money to countries and they are not utilizing it for its purpose, why should you continue lending? Those who are also borrowing are also deceivers.

“A time will come when everyone goes on the streets to say enough of the International Monetary Fund (IMF)/World Bank policies and let us come up with our indigenous policies to grow our internal economic growth. Even though we cannot shy away from them, there is still a need to grow our economy without depending on them. The incoming government should be thinking in that direction.”