FG, Labour Unions Continue Negotiations on Subsidy Removal

The Federal Government and the organised labour, comprising the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC), are set to resume their discussions today, Monday, June 19, 2023, on the palliatives to mitigate the impact of the fuel subsidy removal on Nigerians.

The meeting, which will take place at the Presidential Villa, Abuja, by 4 pm, is expected to finalise and implement the resolutions reached at the previous meeting on June 5, 2023.

Some of the resolutions include reviewing the proposal for a minimum wage increase from N30,000 to N150,000, expanding the cash transfer scheme for low-income earners, and reviving the compressed natural gas conversion programme.

The meeting comes amid threats of industrial action by the NLC if the government fails to meet its demands and address the hardship caused by the hike in petrol price. The NLC also called for the revamping of the nation’s refineries to reduce dependence on imported fuel.

The fuel subsidy removal was announced by President Bola Tinubu on May 29, 2023, as part of his administration’s economic reforms. The announcement led to fuel scarcity and price increase from N185 to over N600 per litre within 24 hours. The Nigerian National Petroleum Company Limited (NNPCL) later released a price template for its outlet stations.

The government and labour unions have been in dialogue since then to avert a nationwide strike that could cripple the economy. Both parties expressed optimism that today’s meeting would yield positive results and bring relief to Nigerians.

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