Petroleum Products: Labour Cautions Nigeria Against Implementing IMF’s Recommendation On Subsidy - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
April 14, 2019
The Nigerian LabourCongress, NLC has cautioned the Federal Government against implementing therecommendation of the International Monetary Fund IMF on the removal of subsidyon petroleum products in the country.
NLC President AyubaWabba, gave the advice at a news conference in Abuja.
Wabba said that thecontinued devaluation of the Nigerian currency had created the impression ofthe existence of subsidy.
He said that as longas the value of the Naira was left to market forces, the issue of subsidy wouldcontinue in the country.
The labour leaderurged that efforts should be made by government to upgrade the nation’srefineries.
He said that there wasno country in the world where IMF’s recommendations had worked.According to Wabba, Nigeriashould be cautious in considering the options suggested by the IMF.