Chemical and food sectors operating below capacity – Bolarinwa, NUCFRLANMPE President

Many industries in the chemical and food sectors are now operating far below capacity due to unaffordable import costs and shrinking local demand, says Organised Labour.
This is even as it lamented the damaging effects of unrestrained capitalism on the Nigerian economy.
President of the National Union of Chemical, Footwear Rubber Leather and Non-Metallic Products Employees (NUCFRLANMPE), Bolarinwa Sunday, in an exclusive interview with Daily Sun’s Workforce said excessive government reliance on market forces at the dictate of foreign bodies has led to rising poverty, high cost of living, and industrial decline.
The labour leader warned that Nigeria’s economic model, heavily skewed towards satisfying capitalist principles and international financial institutions, has left ordinary citizens and industries at the mercy of harsh policies and market shocks.
“This government is operating in a capitalist economy that is completely anti-poor,” he said adding that everything about the government is generating revenue. 
“The government wants to satisfy the IMF, World Bank and all those people who give them loans. It is about taxation and levies at the expense of the masses,” Bolarinwa stated.
He pointed to persistent hikes in electricity tariffs and multiple banking charges as evidence of anti-poor governance driven by capitalist greed rather than social welfare. According to him, Nigerians are paying for the failures of government through inflationary tariffs and exploitative financial practices that further impoverish the people.
“Everyday they are increasing electricity tariffs. How many people can afford to buy diesel? And to make it worse, banks are collecting excessive charges from customers. You see charges from ATM, from transfer, from account maintenance. What are they maintaining?” he queried.
Bolarinwa argued that the current system only benefits a few elites and foreign interests while local manufacturers struggle with high production costs, forex scarcity, and dwindling consumer purchasing power. 
He highlighted the volatility in the exchange rate. “There is scarcity of foreign exchange. Most of our industries are into importation. They import raw materials. Once they cannot get forex, they cannot produce. And if they do produce, the prices will be high and unaffordable to the common man.” 
He lamented how capitalist-driven reforms have dismantled social safety nets without building the enabling environment for productivity. 
The NUCFRLANMPE boss cited examples of how even companies providing digital TV services or dairy products are losing patronage due to reduced household incomes. 
“Nigerians are no longer watching DSTV, they are now going for GOTV. You go to the market, people no longer buy milk as before. Consumption is dropping because people cannot afford it,” he said.
He also criticised the lack of sincere support for local production, blaming corrupt practices and political favouritism in disbursement of intervention loans. 
“When government says they are giving farmers loans, they end up giving politicians who go to hire land, put tractor and take pictures. After one week, they abandon the place. Meanwhile, the real farmers who need support never see the money,” he expressed.
Bolarinwa however advocated for a shift from capitalist doctrine to policies that prioritise  inclusive growth, such as subsidised electricity, accessible and low-interest loans, and protection of domestic industries. 
According to him, “Nigeria must adopt a development model that balances market efficiency with social equity, one that safeguards the productive sectors and uplifts the working class.”