Naira to Dollar exchange rate killing our businesses – NUT tells FG

o Applauds Oyo Governor’s performance

Daniel Ayantoye | Ibadan

The National Union of Tailors (NUT), has called on the Federal Government to stop the continous increase in naira to dollar exchange rate.

The NUT Oyo State Chapter, President, Mr. Ojewale Oloyede Mutiu made the call in an interview with NATIONAL TELESCOPE during the 2021 Tailors Day in Ibadan on Monday, October 11, 2021.

According to him, the cost of tailoring machines and materials have now increased, thereby affecting the price of services.

“Due to the economic situation in the country, the problem we have is the alarming increase in exchange of naira to dollars. I remember when I started my job in 1987, my first machine was N670, the other one I bought was N1000. A piece of sewing machine now will cost you N65,000, Industrial machine will cost you up to N185,000 and this is related to this dollar problem and currency exchange.”

Mr. Ojewale enjoined the State and Federal governments to combine efforts in regulating the exchange rate in order to ease the economy of the nation.

Speaking further, the NUT boss appreciated the State Governor, Engr. Seyi Makinde for the support received during the Covid-19 lockdown.

“We have to thank His Excellency, the Executive Governor of Oyo State, Engr. Oluwaseyi Makinde because he has been quite supportive. Even during the Covid-19 pandemic, when we were unable to feed, he gave us support and we are happy but we don’t want him to stop, we want continuity. We appreciate all our members for their cooperation.”

He also called on Government at all levels to support and partner the Union in areas of skills acquisition and empowerment for the less previledge.

According to him, majority of youths engage in social vices because of idleness.
“So, we appeal to the State and Federal government to assist us so that our tailoring materials will be durable.


“We have some plans, we are partnering NDE for skills acquisition as some parents don’t have money to put their children up for apprenticeship.
“I also want to use this opportunity to advise our youths to keep calm and stop all this yahoo plus. It won’t lead you to a good destination but skills acquisition, will.”

Some of the guests at the event who spoke in a separate interview with NATIONAL TELESCOPE expressed their confidence in the Union’s capacity to continually add more value to the Nigeria economy.

One of the guests, Primate Ayotunde Lawan Ayemioniba, founder of C & S, Holy Micheal Church, commended the organisers for their efforts and cooperation.

He urged them to continually ensure work better and pray for the country for the country to get better.

In the same vein, HRH, Oba Sulaiman Oladepo, the Alajia of Ajia Olorungbiji, lauded the Union for their outstanding performance.
He however enjoined the leaders of NUT to carry everyone along in their activities.

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