A rise in the price of Premium Motor Spirit from N162 to N340 by 2022 has alarmed the Nigerian Labour Congress (NLC).
NNPCL Group Managing Director/CEO Mele Kyari had previously stated that fuel would sell between N320 and N340 per litre beginning February.
He claimed Nigeria would leave the subsidy system in the first quarter of 2022, but that the government would compensate 40 million residents with N5,000 each.
The Congress has begun mobilizing to shut down the economy if the Federal Government goes ahead with its proposed rise.
This is because any move to raise petrol prices will harm every Nigerian regardless of their status, they told Nation.
Contrary to some opinions expressed by seasoned labour unionist Chief Frank Kokori, NLC President Comrade Ayuba Wabba said the congress was out to empower its members to effectively tackle negative policies that further poor Nigerians.
“We cannot support deregulation based on an import-driven price model,” he stated. We spoke it without hesitance.
“If you force us to embrace deregulation based on importation, prices will continue to rise. It is incorrect to assume that deregulation without domestic refinery capacity will lower the price of PMS.
“When crude oil was virtually at $0, the price of two deregulated commodities never went down - diesel and kerosene. They kept rising.
Because marketers are motivated by profit, they normally conspire, and that is what will happen to Nigeria if we embrace this approach.
“The effect is not also on the working class since the minimum wage gain has been fully undermined. The main concern is how to stabilize the naira's value. In the absence of a stable naira, imports will impact the larger economy and the pricing of products and services.
“This is the reality, hence we ask for a refinery renaissance. To work. Export our jobs. Let us make the most of what God has freely given us. You don't need to make any announcements before summoning labour to the bargaining table. That's why we're mobilizing again.
“If we follow the governors forum's proposals, you raise the price from N162 to N340 or N408.” “I don't see how that can be forced down Nigerians' throats.”
It criticised the proposed N5,000 transit allowance for 40 million Nigerians.