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, Ayuba Wabba, described the federal government’s plan in a statement on Wednesday as a “penny wise pound foolish” gamble.
According to him, Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), announced on Wednesday that fuel price could cost up to N340 from February 2022.
Wabba regretted that there are no ongoing talks between the workers and the federal government, as the negotiation was suspended many months ago (with no new date).
The NLC president 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 Wabba, 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 an increase in the price of goods and services.
This, Wabba said will open a wide door for increased insecurity crises and possibly citizens’ revolt.