NLC Warns Tinubu On Fuel Subsidy Removal, Says ‘It Could Be A Costly Gamble’
The Nigeria Labour Congress (NLC) has said it would staunchly oppose the decision by President Bola Tinubu to remove subsidy on petrol without making consultations with all stakeholders and putting the necessary palliatives in place.
“We at the Nigeria Labour are outraged by the pronouncement of President Bola Tinubu removing ‘fuel subsidy’ without due consultations with critical stakeholders,” Joe Ajaero, the President of NLC said in a statement issued on Tuesday in Abuja.
Ajaero said that the NLC would staunchly oppose the decision if the palliative measures were not in place to cushion the harsh effects of the ‘subsidy removal.
NLC claimed that within hours of Mr President’s pronouncement, the nation had gone into a tailspin due to a combination of service shut downs and product price hike, in some places representing over 300 per cent price adjustment.
He said that by the decision, Tinubu on his inauguration day had brought tears and sorrow to millions of Nigerians instead of hope.
The NLC president also said that Mr President had equally devalued the quality of their lives by over 300 per cent and counting.
According to him, it is no heroism to commit against the people this level of cruelty at any time, let alone on an inauguration day.
“If he is expecting a medal for taking this decision, he would certainly be disappointed to receive curses for the people of Nigeria consider this decision not only a slight but a big betrayal.
“On our part, we are demanding the immediate withdrawal of this policy. The implications of this decision are grave for our security and well-being.
“We wonder if President Tinubu gave a thought to why his predecessors in office refused to implement this highly injurious policy decision?”.
Related: Petrol Queues Resurface Over President Tinubu Subsidy Removal Pronouncement
He added that “we also wonder if he also forgot the words he penned down on January 8, 2012, but issued on January 11, 2012.
“In light of the foregoing, we advise Tinubu to respect his own postulations and economic theories instead of daring the people. It could be a costly gamble,” he cautioned.
It would be recalled that Tinubu announced the fuel subsidy removal during his inaugural speech on Monday, saying that subsidy can no longer justify its ever-increasing costs in the wake of drying resources.
Tinubu pledged to re-channel the funds into better investment in public infrastructure, education, healthcare and jobs that would materially improve the lives of millions.
(NAN)