While opposing the anticipated petroleum price hike, the Nigeria Labour Congress has urged the Federal Government to examine measures to assist the country in embracing progressive governance and responsible leadership.
Comrade Ayuba Wabba, President of the Nigerian Labour Congress, made the demand in a statement to newsmen in Abuja headlined, ‘Nigerian workers refused to take the bait.’
According to him, Malam Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Corporation, indicated that gasoline might cost as high as N340 starting in February 2022.
The government’s proposal to give N5,000 to 40 million Nigerians as a palliative to soften the impact of the exorbitant increase in the price of petrol was described by Wabba as “comical.”
He said that the entire sum involved in the “queer initiative” was significantly greater than the amount estimated by the government to be spent on fuel subsidies now.
“The NNPC GMD said that the price increase would be consequent on the plans by the Federal Government to remove subsidy on Premium Motor Spirit, also commonly referred to as petrol or fuel.
“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 said.
Wabba 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.
He added that the minister announced the government’s plans to disburse N5000 to 40 million poorest Nigerians each as a transport grant to cushion the effect of the planned removal of the fuel subsidy.
Wabba said the disclosures by NNPC GMD and the Minister were in symphony with the positions of the World Bank and the International Monetary Fund which urged the Federal Government to do away with fuel subsidy.
“The response of the NLC is that what we are hearing is the conversation of the Federal government with neo-liberal international monetary institutions.
“The conversation between the government and the people of Nigeria, especially workers under the auspices of the trade union movement on the matter of fuel subsidy was adjourned sine die so many months ago.
“Given the nationwide panic that has trailed the disclosure of the monologue within the corridors of government and foreign interests, the NLC wishes to maintain its rejection of deregulation based on import-driven model.
“We wish to reiterate our persuasion that the only benefit of deregulation based on import driven model is that Nigerian consumers will infinitely continue to pay high prices for refined petroleum products.
“This situation will definitely be compounded by the astronomical devaluation of the naira which currently goes for N560 to one US dollar in the parallel market, ’’he said.
Any effort to compare the price of fuel in Nigeria to that of other nations, according to the NLC president, would be based on a flawed assumption since it would be like comparing apples with mangoes.
Wabba claimed the government’s plan to raise the price of gasoline by more than 200 percent was a perfect formula for a worsening case of hyperinflation and an enormous rise in the cost of goods and services.
According to him, this will open the door to a slew of societal repercussions, including the escalation of the existing insecurity concerns.
NAN
