The Nigeria Labour Congress, NLC, and the Trade Union Congress have rejected President Bola Tinubu’s N500 billion palliative, stating that it is severely inadequate to alleviate the sufferings confronting workers as a result of the removal of fuel subsidy.
They are requesting a 300 percent pay raise to help workers cope with the challenges posed by the deteriorating economic situation caused by the removal of the controversial fuel subsidy.
On Wednesday, the President requested clearance from the House of Representatives for N500 billion to offset the consequences of the removal of petrol subsidy.
Tinubu’s plea was contained in a letter written to the National Assembly and read aloud during plenary by Tajudeen Abbas, Speaker of the House of Representatives.
The President announced the removal of petrol subsidy during his inaugural address on May 29, 2023, in response to claims that the subsidy scheme favoured the rich over average Nigerians, among other reasons.
The President proposed an amendment to the 2022 Supplementary Appropriation Act in his letter.
“I write to request that the House of Representatives approve the attached amendment to the 2022 Supplementary Appropriation Act.”
“The request has become necessary to, among other things, the source of funds necessary to provide palliatives to mitigate the effect of the removal of fuel subsidy on Nigerians.”
“Thus, the sum of N500 billion has been extracted from the 2022 Supplementary Act of N819,536,937,815 for the provision of palliative to cushion the effect of the removal of petrol subsidies.”
”The government should provide social benefits for aged and unemployed youths; agric loans to farmers and youths through the Agric Bank and community banks at single digit rates; provide alternative energy supply such as massive investment in solar power and compressed natural gas to motorists,” said Hakeem Ambali, National Treasurer of the NLC, in an interview.
“Fix the refineries; revert the privatization of electricity to the state due to poor performance; complete metro rail line projects in all state capitals; and reduce school fees for tertiary students.”
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