President Bola Tinubu meets with leaders of labour unions in the State House, Abuja to negotiate possible solution to the subsidy removal.
The Organised Labour, comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), embarked on protests across the country on Wednesday over the removal of petrol subsidy without adequate palliative measures. The protests, initiated by NLC and TUC, raised concerns about the impact on citizens’ cost of living, especially the vulnerable. The meeting is aimed at conveying workers’ grievances, negotiating potential solutions, and presenting demands for suitable palliative measures to alleviate economic burdens.
Those present at the meeting include Mele Kyari, group chief executive officer of the Nigerian National Petroleum Company Limited (NNPCL); Joe Ajaero, NLC president; Seyi Makinde, governor of Oyo state; Festus Osifo, TUC president; Dele Alake, special adviser to the president on special duties, communication and strategy, among others.
The labour union leaders had said they were seeking assurances from the government that concerns will be addressed effectively and promptly, ensuring the removal of petrol subsidy is not overly burdensome, particularly for Nigerians already facing economic challenges.
During his inaugural address on May 29, President Bola Tinubu announced that the petrol subsidy regime was over. The pronouncement immediately led to a hike in the pump price of petrol, a quadrupling of transportation costs in certain areas, and ballooning inflation across several market segments.
