SECURING SCARCE COMMODITY IN NIGERIA

Job (work) in Nigeria can be likened to a scarce commodity housed by its owners; released to a relatively few without connection, offering them stipend for their input as against the surplus value. Noticeably, the private companies – oil and gas, banking sector, telecommunication amongst others reflects this on employment basis.

          On relative terms, Nigeria has a huge rate of unemployment today compared to the yesteryears owing to the proliferation of universities (private and public) across the 36 states in the country. The output (product) of these universities cannot occupy the limited spaces available in industries and government parastatals on merit terms. Shockingly, the scarce resources (job) battled for by outrageous number of graduates is attributed to luck, connection, godfatherism, nepotism and favouritism at the expense of merit. This is our reality in Nigeria today.

          On the other end, the employees in any private industry are faced with lot of challenges viz; security of the job, inappropriate compensation/reward packages, promotional issues, welfarism setback to mention but a few. This article was borne out of the recent act of financial institution retrenchment of their workers for varying reasons. Worthy of note, the downturn of any industry is suffered by the most important personnel in the organization – employee. On the contrary, good fortunes brought to the organization by this group are not appreciated adequately on promotion terms but rather with rewards that doesn’t suit their needs and drives.

          Furthermore, the Nigerian banking industry noted for her job insecurity is short-staffed owing to the public fear to visit the bank because of the destined (assured) queues, incompetent cashiers (slow in computer operation), adopting industrial training student over graduates to mention but a few. We will therefore continue to experience all these problems because the utmost motive behind any banking setup is profit oriented at the detriment of their customers and their employees. I therefore see no justification for the 1,040 staffs retrenched in Eco Bank, 1000 staffs laid off in First Bank, 200 staffs cut back in Diamond Bank and recently 175 staffs sacked in Skye Bank. The arising questions here; Are they re-branding the sector? Are they ready to employ on merit terms? Are they foregoing who brought you syndrome?

          Without mincing words, the financial sector in Nigeria amongst other uses and dumps. The employees that get to stay offers unnecessary exercise outside the work environment. The way out of all these abysmal practices by financial service sector is for the federal government to cushion the act of retrenchment by intervening beyond the act of Dr. Ngige. At this current dispensation, the ear of the presidency is shut down up until two weeks interval before this article’s suggestion will be reckoned with.

Thanks for your attention.

Operation Rescue Sacked Employees

God Bless Nigeria.