Just In: Anxiety As FG, NLC Meeting on Fuel Subsidy Removal Ends in Deadlock

Just In: Anxiety As FG, NLC Meeting on Fuel Subsidy Removal Ends in Deadlock

  • Talks between the federal government and the organised labour hit a deadlock on Wednesday evening as no consensus was reached
  • The hours-long meeting was to, among other things, prevent a labour crisis following the recent increase in petrol pump prices occasioned by petroleum subsidy removal
  • After the meeting, NLC president, Joe Ajaero, said, "As far as labour is concerned, we didn’t have a consensus in this meeting"

The meeting between the organised labour and the federal government representatives on the removal of subsidy on fuel ended in a stalemate as no agreement was reached.

The meeting at the Conference Hall of the Chief of Staff to the President at the State House, Abuja, came after the announcement by President Bola Ahmed Tinubu that subsidy on fuel had gone and new prices of the Premium Motor Spirit (PMS) introduced by Nigerian National Petroleum Corporation Limited.

NLC president, Joe Ajaero, Bola Tinubu, APC, Labour leaders, NNPCL, fuel subsidy removal
The meeting between FG over fuel subsidy removal has ended without a consensus. Photo credit: Nigeria Labour Congress HQ, Dele Alake
Source: Facebook

Fuel subsidy removal: NLC, FG meeting ends in deadlock on Wednesday night

The organised labour was led by the President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero and his counterpart for the Trade Union Congress (TUC), Comrade Festus Osifo.s

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Speaking after the meeting, Ajaero and Osifo stressed that the status quo be maintained on the prices of PMS while negotiations continued, Daily Trust reported.

Both labour leaders said another meeting would hold after discussions with members of their executives on the outcomes of Wednesday’s interaction with the federal government team, Channels TV added.

Ajaero said there was no consensus after the meeting, adding that “As far as labour is concerned, we didn’t have a consensus in this meeting.”

Watch the video of Dele Alake giving an update of what was agreed upon by the FG and Labour union

NLC rejects new pump price of petrol, gives fresh directive

Legit.ng reported earlier that the new pump price of petrol fixed by the Nigerian National Petroleum Corporation Limited (NNPCL) has been rejected by the Nigeria Labour Congress (NLC).

As reported by Daily Trust, the oil firm earlier directed its outlets nationwide to sell fuel between N480 and N570 per litre.

Garba Deen Muhammad, Chief Corporate Communications Officer, NNPC Ltd, had said the price adjustment was made in line with “market realities”.

Reacting to the development, NLC President, Comrade Joe Ajaero, who briefed journalists at Labour House, Abuja, on Wednesday, May 31st, said the congress would not accept that.

Bola Tinubu breaks 24-year record of Obasanjo, Yar-Adua, Jonathan, and Buhari in 24 hours

In another development, President Bola Ahmed Tinubu surpassed the stock market performance of his predecessors within the first 24 hours of his inauguration.

Following Tinubu's inauguration, the Nigerian stock market opened the week on a bullish note as investors displayed confidence in his administration.

President Tinubu addressed key economic concerns in his inaugural speech, emphasising the need to capture fuel subsidy in the 2023 budget and pledging to work towards a unified exchange rate to bolster the Nigerian economy.

Source: Legit.ng

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