Business

Fuel subsidy removal would have set Nigeria on fire – NLC

Published

1 year ago

April 28, 2023

TUC urges stepping up local production of petroleum products

Nigeria Labour Congress has reacted to the decision of the Federal Government to suspend the removal of fuel subsidy to a later date, saying it is the right thing to do.

Indeed, the NLC, which spoke along with the Trade Union Congress, said the petrol subsidy removal would have instantly set the country on fire.

The Federal Government had earlier planned to stop the subsidy payments on petroleum products from July, having made provisions for only the first six months in the 2023 budget ending in June.

It however announced its postponement on Monday, saying it was due to “high inflation and economic hardship”.

Speaking on the issue, Head of Information at the NLC, Benson Upah, said the union was glad that the government “has seen the light and decided to do the right thing”.

He said the removal of petrol subsidy “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.”

Upah said the decision would reduce the corruption in the system while he called on the government to fix the existing refineries or build new ones instead of importing refined petroleum products.

TUC

Secretary-General of the Trade Union Congress (TUC), Nuhu Toro, described the government’s decision as a good move.

He said, “Though it’s coming late, 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.

“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.”

He also said refurbishing the existing refineries and production of petroleum products in Nigeria would be in the best interest of the country.

“First, it would create jobs, make the petroleum products available for consumption and probably reduce the price of the products,” Toro said.

He 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.”

He urged the incoming government to leverage social dialogue on issues that affect Nigerians, warning against drafting policies overnight and pushing same down people’s throats.

Up Next

FG insists no vaccination as flu kills 3.4 million birds

Don't Miss

FG bows to pressure, postpones fuel subsidy removal

Auto

Appeal court takes over NURTW case as NIC withdraws

Published

24 hours ago

May 1, 2024

Trends Admin

Appeal court takes over NURTW case as NIC withdraws

The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.

The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.

Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.

The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.

The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.

Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.

With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.

Business

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Published

1 day ago

May 1, 2024

Trends Admin

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Despite the intervention of the CCPT, Multichoice Limited has proceeded to increase packages price for DSTV and GOTV as announce on Wednesday last week.

Newstrends had earlier reported that the corporation announced that the new rates will go into effect on Wednesday, May 1, 2024, in a statement.

Meanwhile, on Monday, MultiChoice Nigeria Limited was ordered by the Competition and Consumer Protection Tribunal (CCPT) in Abuja to suspend the planned prices and tariffs hike on packages and services.

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Business

As controversy over Maersk-FG port investment rages, Onanuga says no $600m deal signed

Published

1 day ago

May 1, 2024

Trends Admin

As controversy over Maersk-FG port investment rages, Onanuga says no $600m deal signed

The Nigerian government and a shipping giant, Maersk, have not signed any investment agreement, Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, has said.
Onanuga was reacting to the controversy surrounding the reported sealing of a $600 million deal for the development of the nation’s seaports.
He said there was only talk “of possible investment in Nigeria” by Maersk.
Interestingly Onanuga had hinted about the deal in a tweet said to have been pulled down after the social media backlash.
After President Tinubu’s discussion with Maersk’s Chairman Robert Uggla on April 28, on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia, the presidency had released a statement announcing that the shipping company had pledged to inject $600 million into the Nigerian seaport industry.
“Danish shipping company, A.P Moller-Maersk plans $600m investment in Nigeria. Danish shipping and logistics company A.P Moller-Maersk has disclosed a planned investment of $600 million in Nigeria to accommodate more container shipping services in Nigerian ports,” Onanuga wrote on X.
In a statement, Tinubu’s spokesperson, Ajuri Ngelale, also said “President Tinubu meets Chairman of Danish shipping giant Maersk, secures $600 million investment in Nigerian seaport infrastructure.” He quoted Uggla as saying, “We believe in Nigeria, and we will invest $600m in existing facilities and make the ports accommodating for bigger ships.”
In response to this. Maersk officials have denied any such agreement and stress no deals have been signed.
Onanuga in a new report by TheCable, an online news platform admitted no agreement on investment had been reached by the two parties.
“I think the statement issued by Maersk did not talk about a deal. There was no deal according to that statement that I read.
“However, there was talk of investment,” the special adviser said.
“No document or agreement was signed, so there was no deal. But there was talk of a possible investment in the country.
“So, go and read the statement again. They never said any deal was signed between the Nigerian government and the Dutch company. There was nothing like that.”
Onanuga however said the shipping company did not expressly deny that there was an investment talk.
He said people are “unnecessarily giddy over nothing.