By Samuel Adeola
President General of the Trade Union Congress (TUC), Comrade Festus Osifo, has accused Nigerian leaders of “laziness” and overdependence on crude oil, warning that without urgent diversification into agriculture and improved productivity, the economy will remain fragile.
Speaking at the TUC South West Labour Summit 2025 in Lagos, themed “Collaborate to Transform: Building Capacity for Regional Excellence and Workers’ Welfare”, Osifo lamented that Nigeria’s budget, pegged at just over ₦50 trillion, is worth only $13 to $35 billion in dollar terms over the past decade far below the amount needed for basic infrastructure.
“To construct the entire federal road network will cost $120 billion; four times our annual budget without touching salaries, education, or health,” he said, comparing Nigeria’s finances to universities like Harvard and Stanford, whose endowments exceed the country’s budget.
Osifo decried the underutilisation of fertile lands in states like Niger and Borno, noting that smaller nations such as the Netherlands generate twice Nigeria’s crude oil revenue from agriculture.
“If we don’t grow our revenue, we will keep shifting problems to tomorrow.
“Government must take the lead in pushing people back to commercial farming,” he stressed.
Representing Governor Babajide Sanwo-Olu, Lagos Commissioner for Establishment and Training, Afolabi Ayantayo, urged Nigerian embassies to “buckle up” in attracting exports, investors, and foreign direct investment.
He reaffirmed Lagos State’s commitment to timely salaries, fair pay, safe workplaces, and partnerships with labour to tackle inflation, high living costs, and economic diversification.
“Lagos State is proud to partner with all labour unions, employers, and stakeholders.
“Real regional transformation happens through collaboration, not just between government and labour, but across all sectors of society,” Ayantayo said.
