NLC Opposes FG’s Plan to Remove Fuel Subsidy
Written by Boom Radio on November 25, 2021
The Nigerian Labour Congress (NLC) has opposed the Federal Government’s plan to stop paying fuel subsidy by next year which would automatically increase the pump price of premium motot spirit a.k.a petrol. The labour union also questioned the federal government’s decision to pay N5,000 to 40 million Nigerians as palliatives to cushion the effect of the astronomical petrol price increase, describing it as comical.
This was made known by the NLC President, Comrade Ayuba Wabba, in a press statement titled, ‘Nigerian workers refused to take the bait’, he issued in Abuja.
In his statement, Ayuba said that the total amount involved which he referred to as “queer initiative“ was far more than the money government claimed to spend currently on fuel subsidy.
“The grand optimism of the NNPC GMD was predicated on the claims that the removal of fuel subsidy is now backed by an act of parliament probably the Petroleum Industry Act which was recently signed into law.’’
He also noted that the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, re-echoed the same on Tuesday at the launch of the World Bank’s Nigeria Development Update (NDU).
He added that the minister announced government’s plans to disburse N5000 to 40 million poorest Nigerians each as transport grants to cushion the effect of the planned removal of the fuel subsidy.
The NLC President pointed out that the views of the GMD of NNPC correspond with the positions of the World Bank and the International Monetary Fund (IMF) which asked the Federal Government to remove fuel subsidy.