Organised labour has commended what it called the “constructive collaboration and engagement” between President Muhammadu Buhari and the outgoing 8th National Assembly in ensuring the renewal of the appointment of Godwin Emefiele as Governor of the Central Bank, as well as the prompt passage of the Public Holiday Act Amendment Bill, which recognises June 12 as the new Democracy Day.
President Muhammadu Buhari had nominated Emefiele for another five-year tenure as CBN governor. Equally, last Thursday at plenary, the Senate passed the amendment in concurrence with the House of Representatives, which approved the new date of June 12 as Nigeria’s Democracy Day earlier in December 2018, following the adoption of a report by Senator Ahmad Lawan, Majority Leader, for the Senate to concur with the House.
The bill was passed almost one year after President Buhari announced that the date would replace May 29 for Nigerians to commemorate the return to the civilian government.
At the weekend, Comrade Issa Aremu, general secretary of the National Union of Textile Garments and Tailoring Workers of Nigeria, stated that the bipartisan consensus on the twin issues of Emefile’s reappointment and June 12 as Democracy Day should be sustained in the resolution of urgent critical national issues such as re-industrialisation, electricity supply, tackling insecurity, human capital development, endemic infrastructural deficits and poverty eradication.
He said the remarkable consensus on the two issues was a “win-win” for Nigeria, adding that “where there was the collective will”, there would be collective way for national development, and both arms of government deserve praise for the deal.
Aremu congratulated Emefiele for what he called “earned and deserved” reappointment. According to the labour leader, it would go on record that Emefiele as the CBN governor commendably defended the autonomy of the CBN against the neo-liberal forces that were pushing for unhelpful floating of the naira, with the attendant unhelpful massive devaluation in the wake of recession in 2017.
He said the relatively stable exchange rate in recent times had allowed for national planning and business decisions needed for growth and development.
Aremu stated that the most significant achievement of the CBN governor in his first tenure was development financing that “has revolutionised rice production and is rekindling the hope of revival of cotton production” through cheap, long-term credit and direct purchase and supply of inputs for farmers.