The Nigerian Labour Congress, NLC, has cautioned the Federal Government against implementing the recommendation of the International Monetary Fund, IMF, on the removal of subsidy on petroleum products in the country.
NLC President, Mr. Ayuba Wabba, gave the advice at a news conference on in Abuja, tagged “Public Declaration of Nigeria’s Host of the 6th African Meeting of Solidarity with Cuba, and Inauguration of Local Organising Committee, LOC.
Wabba said that the continued devaluation of the Nigerian currency had created the impression of the existence of subsidy noting that as long as the value of the Naira was left to market forces, the issue of subsidy would continue in the country.
The NLC leader urged that efforts should be made by the government to upgrade the nation’s refineries.
He said that there was no country in the world where IMF’s recommendations had worked “or are working hence, Nigeria should be cautious in considering the options suggested by the IMF.
NLC however urged the Federal Government to create more sustainable jobs for poverty reduction noting that countries like Venezuela are celebrated because they stood their ground on policies that must work for the people and not for the capitalist.
Comments are closed for this post.