By Ayodele Oni
The Nigeria Labour Congress (NLC) has announced the suspension of the planned nationwide rotest over anticipated removal of fuel subsidy by the Federal Government.
The NLC’s decision to suspend the strike due to originally scheduled for Thursday, was taken at an emergency NECÂ Zoom meeting on Tuesday afternoon.
The Congress stated that “it has suspended the planned Protest Rally of Thursday and so request all Unions to demobilise their members and go about doing their legitimate duties unhindered.”
The Union commended members and those who were committed to the call for freedom of Nigerians.
The Federal Government had announced on Monday the suspension of the planned removal of subsidy on petroleum products till further notice.
The Minister of Finance, Budget and Economic Planning, Zainab Ahmed, made this disclosure at a meeting held at the National Assembly.
According to the Minister, the Federal Government initially had the plans to remove subsidy on petroleum products from July this year.
“Provision was made in the 2022 budget for subsidy payment from January till June. That suggested that from July, there would be no subsidy.
“The provision was made sequel to the passage of the Petroleum Industry Act which indicated that all petroleum products would be deregulated.
“Sequel to the passage of the PIA, we went back to amend the fiscal framework to incorporate the subsidy removal.
“However, after the budget was passed, we had consultations with a number of stakeholders and it became clear that the timing was problematic.
“We discovered that practically, there is still heightened inflation and that the removal of subsidy would further worsen the situation and impose more difficulties on the citizenry.
“Mr. President does not want to do that. What we are now doing is to continue with the ongoing discussions and consultations in terms of putting in place a number of measures.”
Another report Tuesday quoted the Minister of State for Petroleum, Mr Timiprye Silva, as saying that the Federal Government planned to propose an 18 month extension of the removal of fuel subsidy.
The Minister said in Abuja that the removal of the subsidy was enshrined in the Petroleum Industry Act, explaining that the proposed extension would be sent to the National Assembly for amendment to avoid acting illegally.
Mr. Sylva argued that by the assent of President Buhari of the Petroleum Industry Bill in August 2021, the PMS subsidy removal was expected to be effective from next month.
He explained that following the envisaged implications the removal of the subsidy would cause, President Buhari agreed to an extension in line with the law.
The Minister said the extension would give stakeholders time to ensure that the implementation of the subsidy was carried out in a manner that all modalities were in place to cushion the effects of the policy.
Sylva added that President Buhari has assured that his administration would continue to put in place necessary measures to protect the livelihoods of Nigerians, especially the most vulnerable ones.
Former Head of State, General.Abdulsalami Abubakar, rtd, had earlier advised against the removal of fuel subsidy.
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