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“60,000 Construction Workers have Lost their Jobs” – Union Reveals

Over 60,000  workers in Nigeria’s construction sector have lost their jobs since the incumbent administration assumed power in May 29.

The National Union of Civil Engineering Construction, Furniture and Wood Workers (NUCECFWW) revealed this.

President of the union, Amechi Asugwuni,who disclosed this at a press conference on Wednesday, September 9, blamed the situation to economic downturn which caused suspension of construction projects in the country.

Asugwuni stressed that the development is a dangerous signal to the country’s quest to create jobs and drive economic growth.

Speaking on the infrastructural deficit in the country, the union president said President Muhammadu Buhari needs to confront the problems head on in order to grow the economy.

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Construction Industry Adds 3.2 % to Nigeria’s GDP

Nigeria’s construction industry contributes about 3.2 per cent to the Gross Domestic Product, GDP, Chief Executive Officer, InstinctWave,Akin Naphtal, has said.

According to him, this contribution cannot be neglected because it has become a veritable index in terms of employment generation for both skilled and unskilled manpower.

Napthal said this is an indication that construction industry has seen considerable growth, especially considering its 1.3 per cent growth in 2012.

This development has made the industry to be recognized as Africa’s sector largest market which is also expected to grow at the fastest rate in the world through 2020, he added.