Nigeria Labour Congress (NLC) has rejected a planned petrol price hike in the country and Federal Government’s proposal to pay the sum of N5000 monthly to Nigerians as palliative for six months.
NLC President, Ayuba Wabba who made this known in a statement said the plan of the Federal Government was that of “penny wise-pound foolish” gamble.
According to him, 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.
Wabba lamented that there are no ongoing talks between labour and Federal Government, as negotiation was adjourned many months ago with no new date assigned.
He accused the government of adopting monologue in arriving at its conclusion on subsidy removal, stressing that it would continually reject deregulation that is anchored on the importation of petroleum products.
According to him, 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.
Wabba said the increase would open a wide door for increased insecurity crises and possibly citizens’ revolt.