NLC cautions FG against IMF’s petroleum subsidy removal | Nairalaw

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.

Mr Ayuba Wabba, NLC President, gave the advice at a news
conference on Saturday in Abuja.

The news conference was tagged: “Public Declaration of Nigeria’s
Host of the 6th African Meeting of Solidarity with Cuba, Sept. 23
to Sept. 25 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.

He said 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 government
to upgrade the nation’s refineries.

“As President of the International Trade Union Confederation
(ITUC), I recently led organised labour across the world to a
meeting with the IMF and the World Bank.

“I told them point blank that their one-stop recommendation on
subsidy removal and other sundry policy recommendations to the
third world are not working and will not work.”

He said that there was no country in the world where IMF’s
recommendations had worked “or are working.’’

According to Wabba, Nigeria should be cautious in considering
the options suggested by the IMF.

‘’I saw that many media houses are trying to amplify that the
IMF has recommended that subsidy should be removed.

“In the first instance, is there subsidy? This is a question we
have not been able to answer.

“And I want to corroborate with what President Buhari said years
back that subsidy is actually corruption and that whoever is
subsidising is aiding corruption and we stand by that position.

“In fact, that has remained a consistent position of NLC. We can
kill that issue of subsidy if we refine our products for our
domestic use and it is not rocket science.

“Very soon, we are going to forward a document to the government
on that,’’ he stated.

He noted that “countries like Venezuela are celebrated because
they stood their ground on policies that must work for the people
and not for the capitalist.’’

According to him, our own case is a sorry one and the situation
is even laughable.

“You own crude oil, you pay for it to be extracted from the
ground, you pay for it to be taken outside to be refined, you pay
for tax to where you took it to and you also pay to bring it back
to your country for consumption.

”This is simply the pathetic story of Nigeria. God Almighty has
already given us this resource in abundance, why should our
citizens have to suffer to get it for use?

“In the first place, we should only be talking about subsidy if
actually we do not produce this product.

“But whereas we are producing it and in abundance in that
matter, yet we suffer like we don’t even own a drop of it.

“This is the shameful ordeal Nigerians go through. It is really
a funny situation,’’ he said.

Wabba said that if petroleum was refined in the country, the
word “subsidy’’ would be a thing of the past.

On the public declaration of Nigeria as the host of the
forthcoming meeting, the NLC president said: “We must never forget
the sacrifice of Cuban people for the liberation of most African
countries.

“And also for decades, Nigerians have been beneficiaries of
Cuban government scholarships and education, most especially in the
medical field,’’ he said.

Also speaking, Mr Carlos Trejo, Cuban Ambassador to Nigeria,
commended the NLC and the Nigerian government for their continued
support to ensure the freedom of the Cuban people.

Trejo said that Cuba has constantly been attacked due to their
support to the Venezuela government to stand on policies that must
work for the people.

“We will never abandon the duty to act in solidarity with
Venezuela. So we will continue to call for support for our
sovereignty from African countries, among others that can support
us,” he said. (NAN)