The Nigeria Labour Congress (NLC) has stated that the removal of fuel subsidy has created more problems in the country.
The spokesperson for the NLC, Benson Upah, said this while countering President Bola Tinubu’s claims during his Monday presidential media chat with selected journalists in his Lagos residence.
Henzodaily recalls that the President had said that the nation was heading towards disaster if not for the removal of fuel subsidy.
He insisted that he had no regrets about removing the support, emphasising that the decision was necessary to secure Nigeria’s financial future.
According to him, “We are spending our future. We are spending our generation’s fortunes. We are not investing. We are just deceiving ourselves.”
However, speaking to Punch on Saturday, Upah disagreed with the President’s position, insisting that Tinubu was aware of the situation in the country.
When asked if he agreed with the president, Upah said, “Certainly no. He (the President) knows the truth. Has the removal solved the problem or it has created more problems?”
NLC Reacts As Dangote Refinery Announce New Fuel Price
Meanwhile, NLC has praised Dangote Refinery for its recent decision to lower fuel prices, characterizing it as a timely economic relief for the Nigerian populace.
In a statement to the press on Tuesday, the NLC Chairman for Lagos Council, Funmi Sessi, emphasized that the refinery’s operations have arrived at a crucial moment.
Sessi conveyed hope that this price reduction would alleviate transportation expenses, decrease the costs of goods and services, and offer financial respite to citizens facing the challenges of a high cost of living.
Henzodaily reports that Sessi remarked that this modification is expected to provide essential relief for millions of Nigerians who have been contending with elevated fuel prices and increasing living costs.
He underscored that, without Dangote Refinery, the government would likely still be reliant on fuel imports. Currently, Dangote is producing approximately 650,000 barrels per day, whereas the Port Harcourt refinery and another refurbished facility combined yield about 210,000 barrels per day, which is less than half of Dangote’s production capacity.
“With this, Dangote has introduced healthy competition in the sector, and we are already seeing a reduction in petroleum prices. Dangote has even started exporting petroleum to countries such as Ghana, Togo, and others. This will help stabilise our currency.
“In this instance, we want to give credit to Dangote. We also appreciate its timely intervention,” she added.
The Chairman of the NLC Lagos Council remarked that the National Assembly is currently deliberating on a bill aimed at promoting the domestic utilization of our currency.
“It is regrettable that our currency has weakened, even in comparison to other currencies within the West African region, the labour union noted.
“Therefore, the government should encourage Dangote and other players to enter the market as this will foster healthy competition.
“We welcome this relief, which will help many Nigerians struggling due to the high cost of living, and we urge other stakeholders to follow the example set by the Dangote Group for the benefit of all Nigerians,” the statement added.
Sessi said that if the federal government strictly implements the proposed 2025 budget, there will be hope for the nation’s economic revival.
“With the budget, there is hope for Nigeria. Especially if the government is strict in its implementation, we will see improvements in security, food production, and other areas,” she concluded.