NLC slams global powers over Africa’s debt, trade imbalance
The Nigeria Labour Congress has condemned major global economic powers, asserting that Africa is burdened by unsustainable sovereign debts, unfair trade systems, and persistent structural disadvantages.
This viewpoint was articulated as labor unions throughout the continent commemorated the 2025 African Industrialisation Day, with the NLC advocating for a renewed dedication to self-sufficiency and industrial growth.
In a statement from the Acting General Secretary, Benson Upah, the NLC remarked that Africa's economic issues endure even with its rich natural resources and significant contributions to global industrial development.
The statement indicated that the continent continues to grapple with “toxic insolvent sovereign debts, dependency on manufactured goods, unfair logistics and services, oppressive global trade and financial frameworks, as well as obsolete technology.”
Upah pointed out that historical injustices and the ongoing extraction of essential minerals without adequate value addition have long hampered the continent’s industrial potential.
He encouraged African nations to enhance regional cooperation, foster value-added production, and protect labor rights, stressing that sustainable development must originate from within.
Citing the call for African unity by Ghana’s first President, Kwame Nkrumah, Upah emphasized that the continent must take control of its industrial advancement and refrain from excessive reliance on foreign aid.
The NLC also associated Africa’s industrialization initiatives with the global climate agenda, urging world leaders at COP30 in Belém, Brazil, to prioritize the Belem Action Mechanism, which incorporates climate action, equitable energy transitions, accessible power, and industrial development.
The Congress underscored that enhanced governance, accountability, and a commitment to socio-economic change are crucial for Africa to attain significant industrial progress.
Leave A Comment