Organized Labour Warns Against Planned Petrol Subsidy Removal

The Organized Labour has warned those pushing for an end to subsidy on petrol to perish the idea.

Nigeria Labour Congress (NLC) says the focus for Nigeria for now, should be on developing local capacity to refine its crude oil into petroleum products.

The congress general secretary, Emma Ugboaja, said the efforts should not be on subsidy removal, but local refining of the product.

The outgoing president, Muhammadu Buhari had retained the existing subsidy on petrol prices till June, days after he would have left office at the end of his tenure on May 29.

President elect Bola Tinubu, during his election beering campaign had repeatedly said that his administration would remove the subsidy, which was now taking all the revenue from crude oil exports.

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The NLC secretary general warned those pushing for the subsidy removal that they want to set Nigeria on fire, because the organized Labour would resist it.

Already, Dangote refinery, regarded as the world’s single largest refinery project, whose construction is still ongoing in Lagos, is expected to meet most of Nigeria’s daily demand for petrol.

Also, the fresh rehabilitation of local refinery in Port Harcourt is almost completed, while the on Warri refinery is ongoing along with other private refineries coming up.