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ITUC demands repatriation of Africa’s stolen wealth

The International Trade Union Congress (ITUC) Africa has demanded the repatriation of Africa’s stolen wealth stashed in developed economies. The President of Nigeria Labour Congress…

The International Trade Union Congress (ITUC) Africa has demanded the repatriation of Africa’s stolen wealth stashed in developed economies.

The President of Nigeria Labour Congress (NLC) who doubles as the president of the ITUC, Comrade Ayuba Wabba made this call during the ITUC 4th Ordinary Congress held in Abuja on Wednesday.

Speaking at during the congress which had as its theme “Unite and Make a Difference” he stressed that the failed narrative for Africa be reversed, adding that the continent is not a failed people.

He said “Africa does not need another handout. Africa does not need another loan from Bretton Woods Institutions. Africa is not asking for cheap favors. In fact, we demand the repatriation of our stolen wealth stashed away in developed economies. Instead of free trade, we demand fair trade.”

Wabba noted that Africa wants to add value to her raw materials and create jobs for its teeming youth, he said “We want to export semi-finished and finished products for the global market without the overbearing restrictions of trade tariffs and unwieldy standardization constraints placed by the developed world. Africa wants to reverse her dismal contribution to global trade which United Nations Commission on Trade and Development (UNCTAD) 2015 Report puts at 2.39%.”

He however explained that “fair trade is the only way Africa can attract genuine investments on the continent, accumulate capital, industrialize, create decent jobs, bring peace, stop forced migration and beat poverty, disease and untimely death.”

The also commended the president Muhammadu Buhari led administration for implementation of the N30,000 increase in the national minimum wage and the consequential adjustment for all salary grades. “We commend the support of the ITUC throughout this struggle using the Wage Review in Africa Mechanism.” He added.

Cynthia Samuel-Olonjuwon, International Labour Organisation (ILO) Assistant Director-General & Regional Director for Africa in her opening remarks stressed the need for job creation in the continent adding that “adequate protection for all workers be provided.”

She also stressed the need to promoting inclusive and sustainable economic growth, full and productive employment and decent work for all.

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