Keyamo criticises NLC over fuel subsidy removal stance

Festus Keyamo (SAN), the Chief Spokesperson for the Bola Tinubu Presidential Campaign Council (PCC), has criticised the Nigeria Labour Congress (NLC) for opposing the removal of fuel subsidies in the country.

However, Keyamo, reacting to the NLC's warning via Twitter on Tuesday, April 05, 2023, said that the NLC had "contradicted itself" because its preferred candidate, Peter Obi of the Labour Party, also promised subsidy removal.

“Now, you have the moral burden of reconciling your positions on this issue; though, I can vouch for your patriotism, you have to convince the nation that your position now is not political since your candidate lost at the election," Keyamo partly said.

President Muhammadu Buhari’s led government had announced that the subsidy policy would end by June when the budget for the initiative would expire. The timeline coincides with the end of Buhari’s second term as the president, the maximum allowed by the constitution

NLC's stance on fuel subsidy

The NLC had warned that those pushing for subsidy removal in Nigeria want to set the country on fire. The NLC stated that the focus should be on local refining of petroleum products, adding that anybody thinking of subsidy removal at this time wants to blow up the country.

Recent research findings indicate that labour unions would be willing to entertain the proposition of fuel subsidy elimination, provided that the incoming administration demonstrates a firm commitment towards rehabilitating and reinvigorating the government-owned refineries scattered throughout the country, and concurrently permitting modular refineries to flourish.

Additionally, it is expected that any such moves towards subsidy removal would be accompanied by a commensurate increase in the minimum wage for workers.

Buhari's plan for fuel subsidy

The presidency had announcement that the outgoing government of President Mohammadu Buhari had left the decision of petrol subsidy removal to the incoming government.

Bola Tinubu is the President-elect and is expected to be sworn in on May 29, 2023.

Tinubu's plan for fuel subsidy

Prior to his election, the esteemed President-Elect, Bola Tinubu, delivered a compelling address during the "Business Forward" luncheon for esteemed business owners in Lagos.

During his speech, he made a salient point regarding the imminent removal of fuel subsidies, stating unequivocally that no amount of protestation would sway his conviction.

Tinubu emphasised that it was no longer tenable for Nigeria to bear the burden of subsidising fuel consumption in neighbouring countries.