In a bid to build on the success achieved so far in its diversification efforts, the National Union of Food Beverage and Tobacco Employees (NUFBTE) is expanding its business tentacles with N200 million investments.
This is even as the National Executive Council (NEC) of the union has given its administrative council two years’ extension to oversee the business projects to be undertaking within the period.
In the same vein, branches of the union, cutting across its 13 state councils, have backed the decision of the NEC, which is the highest organ of the union. The branches, represented by their chairmen and secretaries at the union’s secretariat last week, said their support for the 38th NEC, which took place in Abuja last month, was borne out of the fact to sustain the track record of the union in business in recent years.
In a statement signed by the coordinating secretary of branch leadership’s forum, Comrade James Olukanni, the branches said the need to invest more for the organisation in order to save for the rainy days was of great importance to them as members of the union.
“Today, part of what brought us to limelight is our prudence and meticulous investments such as commercial hotel, solidarity infinity venture, water factory plant, befitting secretariat, etc.
“The national president announced to the NEC in session that a saving of N200 million has been made in order to kick-start another modest five-star hotel very soon. We believe we all need to embrace the sacrifice of today for the pleasure of tomorrow,” the statement read.
It explained further that the suspension of the delegate conference for two years was due to the fact that most of the ongoing projects in the national headquarters need to be completed and in order to invest more for the organisation and across the several state councils so as to leave a good legacy and sustaining future for the incoming leaders at various levels of the union’s structure.
The president of the union, Comrade Lateef Oyelekan, said the N200 million saved from the current investments would be committed to expanding the union’s tentacles in business, more so to save the union from future financial embarrassment.
He said, “The expansion is part of our long-term project to sustain the union because, last year, we lost over 3,000 members due to retrenchment, and those numbers cannot be regained within the same years even with new investments coming into the country and we have continued to lose check-off dues.
“Hence we have concluded plans to build a new hotel either in Ibadan or Port Harcourt, as well as a water factory. Our projection really is to have our water factory in all our 13 state councils.”
He explained further that another challenge for the union was the use of robots in the factories, which are now taking over the jobs of the workers, which is a big loss to the union.
, adding that the only way is to expand its business empire.