The Nigeria Labour Congress (NLC) has kicked against the increased pump price of petrol to N617, saying the development remains unaccepted to Nigerians.
Reacting to the development, head information and public affairs of the congress, Benson Upah said that the increase poses a significant threat to the socio-economic well-being of the citizenry, their businesses, incomes and livelihood.
According to him, the congress is yet to be convinced how development is helpful to the people or the economy or how it renews the hope of the people.
He said, “This increment is unacceptable to us at the Congress because it poses a significant threat to the socio-economic well-being of the citizenry, their businesses, incomes, livelihood, everything!”
We had said earlier that no reasonable government acting reasonably, leaves its national currency entirely to the storms of the Market as this could lead to unintended consequences”.
Upah added that the new pump price is suggestive of the fact that the pump price could rise to N1000 or more per a litre any time soon. It makes planning difficult and life uncertain.
The increase of fuel comes just a month after President Bola Tinubu, on May 29 announced the removal of petrol subsidy, which increased pump price of petrol to N600/litre.
The NLC however, faulted President Bola Tinubu’s plan of giving cash palliatives of N8,000 to 12 million families to cushion the effects of fuel subsidy removal.
The money is expected to stimulate economic activities in the informal sector and improve the standard of living in the beneficiaries’ households.
Labour has urged the President to instead provide facilities and infrastructure to make Nigerians independent to be able to provide for themselves and their families.