The Nigerian Labour Congress, NLC has cautioned the Federal Government against implementing the recommendation of the International Monetary Fund IMF on the removal of subsidy on petroleum products in the country.
NLC President Ayuba Wabba, gave the advice at a news conference in Abuja.
Wabba said that the continued devaluation of the Nigerian currency had created the impression of the existence of subsidy.
He said that as long as the value of the Naira was left to market forces, the issue of subsidy would continue in the country.
The labour leader urged that efforts should be made by government to upgrade the nation’s refineries.
He said that there was no country in the world where IMF’s recommendations had worked. According to Wabba, Nigeria should be cautious in considering the options suggested by the IMF.