The current recession rocking the Nigerian economy has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff.
Our correspondents gathered that those sacked were made up of 36 expatriate and 12 Nigerian workers from the group’s headquarters and one of the subsidiaries, Dangote Cement Plc.
Though no official of the group was willing to speak on the matter on Sunday, one of our correspondents gathered from highly placed sources that the decision to sack the workers was not unconnected with the current high cost of running business in the country occasioned by the unavailability of foreign exchange and the unprecedented hike in the naira to dollar exchange rate.
It was further gathered that the huge amounts in foreign currencies being paid to the expatriate workers had become a burden on Dangote due to the steady depreciation in the value of the naira and the difficulties of raising enough dollars.
Consequently, the industrialist, according to sources, has decided to replace the expatriates with Nigerians, who have acquired the requisite experience on the job, as paying them in naira will be less problematic.
For the affected Nigerians, it was gathered that most of them had disciplinary issues, which made it easy for the group to do away with their services.
When contacted on Sunday, the Group Head, Corporate Communications, Dangote Group, Tony Chiejina, said he could not speak on the development.
However, in a letter signed by the President/Chief Executive Officer, Dangote Group, Aliko Dangote, dated Thursday, October 20, 2016,the firm stated that it was constrained to take the “tough” decision as economic factors had affected the cost of production.
The letter, which was titled: ‘Recent Retirement Exercise’, however, appreciated those affected for their contributions to the growth of the group.
We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.
Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at firstname.lastname@example.org
Follow us on twitter @newsbeatportal
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535
Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.