The labour unions have commended the federal government over the suspension of the removal of petrol subsidy.
The unions said the decision of the federal government was the ”best option”.
The Informant247 recalls that the federal government had earlier wanted to stop payments of subsidy on petroleum products from July.
The Vice President Professor Yemi Osinbajo-led National Economic Council (NEC) made u-turn on its plan to remove petrol subsidy.
The NEC said this is not the right time to remove petrol subsidy, stressing that consultations with states and other relevant stakeholders, including the incoming administration should continue.
The minister of finance, budget and planning, Zainab Ahmed revealed that the “council agreed that the fuel subsidy must be removed earlier rather than later because it is not sustainable”.
She added that the removal of subsidy should be carried out in a manner that the impact, as much as possible, “is mitigated on the lives of ordinary Nigerians”.
The head of information, Nigeria Labour Congress (NLC), Benson Upah said the union supported the decision of the government as it “has seen the light and decided to do the right thing”.
He said the decision of the federal government “would have set the country on fire”.
“There would have been an instantaneous reaction. Of course, we would have been glad to coordinate those reactions,” he said.
“But happily, they have begun to see the light. Our advice would be that they should take a lesson from the document we gave them on the so-called fuel subsidy removal.
“The answer cannot be far from domestic production.”
He said the suspension of the removal of subsidy would discourage corruption.
He called on the government to work on the refineries or rebuild them instead of importation of refined petroleum products.
In the same vein, the secretary general of the Trade Union Congress TUC, Nuhu Toro commended the federal government for the decision, describing it as a good development.
“Though it’s coming late but the federal government’s decision to suspend the move to remove fuel subsidy has alluded to the fact that such harsh economic policy ought to have been a product of social dialogue which was not done,” he said.
“We told Nigerians earlier on that the policy is ill-timed and is not acceptable. So it is good that the government has done a U-turn because the policy cannot be forced down our throat.”
“First, it would create jobs, make the petroleum products available for consumption and probably reduce the price of the products,” Toro said.
“It will also guarantee foreign direct investment and make Nigeria a better place.
“We are confused that our refineries are not working and we have asked over time, why are the refineries not working.
“So there is a strong need for a deliberate effort by the incoming government to ensure that our refineries work.
“All the monies they claim go to the process of deregulation can actually be utilised to make our refineries functional.”
“Policies should not just be drafted overnight and pushed through people’s throats. Nigeria belongs to all of us,” he said.