The Nigeria Labour Congress, NLC, has warned President Muhammadu Buhari against removing fuel subsidy and further devaluation of the Naira as being canvassed in some quarters. NLC specifically said it would resist any attempt to further devalue the naira.
The Deputy National President of the NLC, Alhaji Issa Aremu,in a statement in Kaduna on Sunday, stated that “what the country needs now is good governance, not subsidy removal as being canvassed in some quarters.” He said Buhari should go beyond subsidy removal by fixing the existing refineries in Port Harcourt, Warri and Kaduna. Aremu said, “As we have seen with the good management of fertilizer subsidy in the last dispensation under former Agriculture Minister, Dr. Adesina Akinwunmi, there is nothing inherently bad with subsidy. “The challenge of today more than ever before is domestic production of petroleum instead of unsustainable wasteful importation of the products. “The new administration should reject the one-cap-fits-all policy dictate. No substitute to good governance and employment generation. “The actions that Nigerians are looking forward to are urgent fixing of the existing refineries, passage of PIB, job creation and re-organisation and repositioning of the NNPC.” According to Aremu, the proposed removal of oil subsidy and the devaluation of the naira is “policy dictatorship.” “This administration must resist the new emerging discordant voices pushing for twin-evil policies of so-called oil subsidy removal and further devaluation of the naira,” he added.
Source: Today news