The Nigeria Labour Congress (NLC), on Wednesday rejected a planned petrol price hike in the country, faulting the federal government’s proposal to pay the sum of N5000 monthly to Nigerians as palliative.
Ayuba Wabba, the NLC president, in a statement described the plan of the federal government as a “penny wise-pound foolish” gamble.
Wabba said 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.
He 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.
The NLC president accused the government of adopting monologue in arriving at its conclusion on subsidy removal, adding that it will continually reject deregulation that is anchored on the importation of petroleum products.
He noted that 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, the NLC boss said will open a wide door for increased insecurity crises and possibly citizens’ revolt.
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