The Senior Staff Association of Statutory Cooperation and Government Owned Companies (SSACGOC) has urged the Federal Government to address inflation in order to improve the nation’s economic indices.

Mr. Kayode Alakija, SSACGOC President General, made the call on Monday in Abuja while speaking with newsmen on the need for an improved welfare package for the Nigerian workers.

Alakija was recently elected as the President-General of the association.

Alakija said the continuous devaluation of the Naira was worrisome as it negatively affects the cost of goods and services.

He said inflation had taken its toll on workers’ income and the well-being of ordinary Nigerians.

According to him, unfortunately, whatever the country’s authorities and labor are doing in terms of salary review has been taken away by inflation.

“I will keep telling people that even when we had the N18,000 minimum wage, we were even better off than what we are earning now.

“As of today I think one dollar now is about N589 to N590 vis-à-vis the minimum wage, you will discover that an average Nigerian is not even earning up to 60 dollars in a month.

“And what can you do with 60 dollars. So to me, in terms of workers’ welfare or package, a lot still needs to be done, ’’ he said.

The SSACGOC chief said that it was imperative for the Federal Government to address the issue of inflation as the negative effects were better imagined than experienced.

Alakija said when inflation was addressed the economic indices will improve.

“It will improve the purchasing power and reduce workers’ agitation for salary increase because the little they earn will be enough for them”, he said.

He said there was a need for governments to open up the economy by creating more job opportunites for the teeming youths.

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“We have seen a lot of Executive Orders encouraging foreign investors to come and invest in the country but this has not yielded the desired result.

“It will still interest you to know that our investment environment is still not friendly for foreigners to come in.

“Until when there is improvement in the foreign direct investment our economy can grow and be viable to attract more foreign investors”, he said.

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According to him, if the nation’s GDP is growing, it should translate to activities in the economy.

He also called on the Federal Government to address security challenges in the country.

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Alakija pledged that the association would encourage its members to be more efficient and effective with a view to contributing their quota to the nation’s economy.

SSACGOC is an affiliate member of the Trade Union Congress (TUC) with 64 branches both at the federal and state levels.