Buhari’s plan to eliminate fuel subsidies is rejected by NLC

The NLC’s response is that what we’re hearing is the federal government’s conversation with neoliberal international monetary institutions. “The conversation between the government and the people of Nigeria, particularly workers under the auspices of the trade union movement on the issue of fuel subsidy was adjourned sine die so many months ago,” said NLC president Ayuba Wabba in a statement. “Given the nationwide panic that has accompanied the disclosure of the monologue within government corridors and foreign interests, the NLC wishes to maintain its rejection of import-driven deregulation.”

According to him, the NNPC Group Managing Director, Mele Kyari, stated that from February 2022, petrol could cost as much as N340.

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Mr Wabba called the government’s bait to pay N5,000 to 40 million Nigerians as a palliative to offset the impact of the astronomical increase in petrol prices “comical.”

He went on to say that the money spent on the “queer initiative” was far greater than the government claims it spends on fuel subsidies now.

“The NNPC General Manager stated that the price increase would be due to the federal government’s plans to remove the subsidy on premium motor spirit, also known as gasoline or fuel,” the NLC boss added. “The NNPC GMD’s grand optimism was based on claims that the removal of fuel subsidies is now backed by a legislative act, most likely the Petroleum Industry Act, which was recently signed into law.”

Mr Wabba pointed out that Zainab Ahmed, the Minister of Finance, Budget, and National Planning, echoed the same sentiment at the World Bank’s Nigeria Development Update (NDU) launch on Tuesday.

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He went on to say that the minister announced the government’s plans to give N5,000 to each of the 40 million poorest Nigerians as a transportation allowance to offset the impact of the fuel subsidy’s planned removal.