The Nigeria Labour Congress (NLC) and the Nigerian Senate, on Wednesday faulted the Federal Government’s plan to pay N5,000 each to 40 million Nigerians to cushion the effect of fuel subsidy removal.
NLC President, Ayuba Wabba, in a statement on Wednesday described the proposed N5,000 palliative as comical and will translate to far more than the money government claims to spend currently on fuel subsidy, the Senate said there was no provision for it in the 2022 Budget currently before the National Assembly.
Recall that 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. The NLC, however, rejected the planned fuel subsidy removal, which it said is cloudy, describing it as a ‘penny wise pound foolish gamble,’ and a recipe for aggravated hyper-inflation.
In the statement, titled: ‘Nigerian workers refuse to take the bait”, the NLC said, “The contemplation by the government to increase the price of petrol by more than 200 percent is a perfect recipe for an aggravated pile of hyper-inflation and astronomical increase in the price of goods and services. This, Wabba said, will open a wide door for increased insecurity crises and possibly citizens’ revolt.
The NLC president lamented that there are no on-going talks between Labour and the Federal Government, as negotiation was adjourned many months ago. He accused the government of adopting a 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.
The Senate also faulted plans by the federal government to pay N5,000 to 40 million Nigerians as transportation expenses.
Speaking with newsmen on Wednesday, after submission of its committee budget proposal, Chairman, Senate Committee on Finance, Senator Olamilekan Adeola, said that there was no provision for N5,000 monthly grant for 40 million Nigerians for transportation allowance in the 2022 budget currently before the National Assembly.
According to him, before the Executive can embark on such intervention, the proposal must come to the National Assembly because it is going to cost N2.4 trillion.
