The Nigeria Labour Congress (NLC) has rejected a planned petrol price hike in the country and the Federal Government’s proposal to pay the sum of N5000 monthly to Nigerians as palliative.
NLC President, Ayuba Wabba in a statement on Wednesday described the plan of the Federal Government as a “penny wise-pound foolish” gamble.
According to him, the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mele Kyari announced on Wednesday that petrol could cost as much as N340 from February 2022. Wabba lamented that there are no ongoing talks between labour and the Federal Government, as negotiation was adjourned (with no new date assigned) many months ago.
He accused the government of adopting monologue in arriving at its conclusion on subsidy removal, stressing that it will continually reject deregulation that is anchored on the importation of petroleum products. According to him, the contemplation by the Federal Government to increase the price of petrol by more than 200% is a perfect recipe for an aggravated pile of hyper-inflation and increase in the price of goods and services.
This, Wabba said will open a wide door for increased insecurity crises and possibly citizens’ revolt.