Bankers association tasks FG on job creation

President of the union, Comrade Sunday Salako said in Lagos that the development was necessary in order to strengthen the nation’s economy and empower its citizenry.Salako said widening income disparities and structural unemployment are the most serious problems confronting the economy.“The recent report from the review of the nation’s economy for 2013 identified widening income […]

President of the union, Comrade Sunday Salako said in Lagos that the development was necessary in order to strengthen the nation’s economy and empower its citizenry.
Salako said widening income disparities and structural unemployment are the most serious problems confronting the economy.
“The recent report from the review of the nation’s economy for 2013 identified widening income disparities and structural unemployment as the most serious problems…this year, yet government policies are worsening these trend,” he said.
He explained that in a stagnant economy, only massive investment targeted at deliberate policies to create jobs that will kick start jobs and demand, adding that it is wrong to assume that growth alone will create jobs because the economy cannot recover on export-led growth if wages remain low.
“We call on our leaders to stand by their promises to end speculative behaviour, stand up to the banks and end tax avoidance to demonstrate to working people they are acting in their interest as these will stop the profound mistrust of governments and institutions.
“We call on government to ensure that targeted investments in infrastructure are inbuilt in their policy formulation to improve long-term productive potentials that would raise the purchasing power of low and middle income households by reducing inequality and strengthening collective bargaining and minimum wages,” he said.