L
LequteMan
Guest
The Food, Beverage and Tobacco sector of Nigeria's economy is on the verge of shutting down and three million Nigerians in the sector risk losing their jobs, leaders of Food, Beverage and Tobacco Senior Staff Association, FOBTOB, have stated.
This is due to the inability of the companies to source foreign exchange to import raw material for operations, they said.
Already, leading companies in the sector, such as Nigerian Flour Mills, Nigerian Breweries Limited, Guinness Plc, Nigerian Bottling Company, 7-UP Bottling Company Plc, Friesland Campina Wamco Plc, among others, have written to labour for discussions on retrenchment of workers, President of FOBTOB, Quadri Olaleye said.
He claims that employers in the sector had devised every opportunity to sack workers.
“The current situation has reached a pathetic level, because it seems all the employers in our sector are in competition with each other on who can lay off the most workers.
“Every company is now calling for a downsizing of the workforce, and this time under the guise of lack of foreign exchange due to the Federal Government’s recent policy on foreign exchange.
“We are aware that not all the raw materials used in our industry can be sourced locally. Where they can be found, they are mostly not available in commercial quantity.
He therefore urged the federal government to address the problem to prevent the catastrophe.
Vanguard
This is due to the inability of the companies to source foreign exchange to import raw material for operations, they said.
Already, leading companies in the sector, such as Nigerian Flour Mills, Nigerian Breweries Limited, Guinness Plc, Nigerian Bottling Company, 7-UP Bottling Company Plc, Friesland Campina Wamco Plc, among others, have written to labour for discussions on retrenchment of workers, President of FOBTOB, Quadri Olaleye said.
He claims that employers in the sector had devised every opportunity to sack workers.
“The current situation has reached a pathetic level, because it seems all the employers in our sector are in competition with each other on who can lay off the most workers.
“Every company is now calling for a downsizing of the workforce, and this time under the guise of lack of foreign exchange due to the Federal Government’s recent policy on foreign exchange.
“We are aware that not all the raw materials used in our industry can be sourced locally. Where they can be found, they are mostly not available in commercial quantity.
He therefore urged the federal government to address the problem to prevent the catastrophe.
Vanguard
