Subsidy: Stop 100 per cent fuel importation, Labour charges govt ⚠️
• Local refining is way out, says PENGASSAN • Govt using subsidy to blindfold masses, says Okon • Declare state of emergency, probe on subsidy, says Omoijiade • Labour to resist presidential candidates calling for removal, says NLC Notwithstanding proposals and campaign promises to end fuel subsidy, organised labour have insisted that until the Federal…
The Minister of Finance, Zainab Ahmed, who said the 2023 budget proposal has a budget deficit of N10.78 trillion, said it would be funded through domestic and multilateral borrowings and proceeds from privatisation. However, with the Dangote refinery, he said the facility would have significant impact on the fuel supply dynamics, including easing pressure on the economy, especially when combined with the ongoing revamping of the three refineries in the country.
The Nigeria Labour Congress , is however, opposed to plans by government to remove subsidies without first repairing the nation’s refineries to work effectively. He said they should be ready to defend their positions to Nigerians at the campaigns, saying, “When our irresponsible politicians are talking of removing petrol subsidy without solutions for local competitive production of petroleum products, the labour movement would stoutly resist their neo-liberal agenda.”
He said: “It is clearly not sustainable for us to be spending trillions in the payment of subsidies. We quite know from the information available to us that the financial situation of this country is in dire straits. We know as well that the amount of money we are using to service debt is even getting higher than our revenue, so it shows clearly that we are in dire straits but our leaders must lead by example.
Giving an alternative to fuel subsidy, he said rather than the government spending billions in the name of subsidy, it should look at issues like infrastructure, education and health, among others that could benefit the masses. A lawyer and expert on labour matters, Paul Omoijiade, said what the country is dealing with is government subsidising corruption.
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