Site icon businessstandardsng.com

FG Dares NLC Over Fuel Subsidy, Secures $800m World Bank Grant For Palliatives

 The stage  gradually being set for a clash between the Federal Government and the  Nigeria Labour  Congress  (NLC) over subsidy removal as the government  seems dead serious to go ahead with the planned  removal  process in June 2023.

 To show that it is serious about the removal, the Federal Government on Wednesday announced an $800 million grant from the World Bank, targeting 50 million vulnerable Nigerians or 10 million households, as part of its subsidy palliatives measures.

 The Minister of Finance, Budget and National Planning, Zainab Ahmed gave the announcement during the weekly after the Federal Executive Council meeting chaired by President Muhammadu Buhari on Wednesday.

The World Bank and  the International Monetary Fund and other multilateral bodies have told  Nigeria government in clear terms to remove  fuel subsidy which  now turned to be a clog in the wheel of economic progress.

The country has earmarked about N6 trillion out of its N22 trillion budget for 2023 for   fuel subsidy.

Mrs Ahmed underscored that engagements are ongoing with the newly established Presidential Transition Council (PTC) and the incoming administration, to drive the palliative program, which includes the need for buses among various considerations.
Nigeria Labour Congress (NLC) had on Tuesday warned those pushing for fuel subsidy removal to forgo the idea and save the country from another round of social unrest.

The labour centre gave the warning following announcement by the President Muhammadu Buhari administration that it had left the matter for the incoming regime.

NLC General Secretary, Emmanuel Ugboaja, during an interview with journalists in Lagos, said nobody should drag the masses and Nigerian workers into any increase in fuel price in the name of subsidy removal, stating that organised labour would kick against it.

According to him, it will be uncharitable in 2023 for any government to be talking about subsidy or no subsidy for a product that is naturally and thoroughly well endowed in Nigeria.

He said it smacks of wickedness for the nation to be discussing subsidy, instead of production.

Ugboaja lamented that the energy and resources that people are putting into discussing subsidy showed a lack of focus.

He said the development shows a lack of seriousness and appreciation of what governance should be.

His words: “If in 2023, rather than getting people that will make proper use of our natural endowment, we are busy discussing the cosmetic challenge of subsidy or no subsidy, then it is absurd.

“One would have thought that the people should be setting before the incoming government a genuine challenge on how to move Nigeria forward. Not for us to continue in the rigmarole of vicious, musical cheers and absurd comedy of subsidy or no subsidy. We cannot be people that do not respond to records.

“What we should be discussing is how to refine crude oil in Nigeria and make the product available for domestic consumption. Anything outside that shows the wickedness of the kind of intellectuals we have.  We feel sick each time we see normal people come out on national television, giving theories on subsidy and how they can be ploughed into healthcare or education.

“Nothing is more dangerous than the way our elite try to hoodwink Nigerians. The honest truth is Nigerians need to wake up, we cannot continue in this vicious cycle of humiliation and slavery.

“There is no subsidy for anybody to be removed. The point that has to be made is that we must refine it. Anything outside making our refineries work is wickedness.

Meanwhile the Federal Government has approved the sum of 10.9 billion naira for the supply and installation of information and communication technology components for the 2023 National population census scheduled to hold in May.

This was part of the approvals by FEC on Wednesday chaired by President Muhammadu Buhari.

Olusola Bello

Exit mobile version