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NLC to meet with Bola Tinubu over fuel subsidy removal

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NLC to meet with Bola Tinubu over fuel subsidy removal

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The Nigeria Labour Congress (NLC) has expressed its desire to meet with President-elect Bola Tinubu to discuss the removal of subsidy on petrol.

However, the NLC has maintained its stance that the government must first ensure that Nigeria’s refineries are operational before removing the subsidy.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has also called for the government to fix the refineries before removing the subsidy.

Oil marketers have warned that the cost of petrol could rise to N700/litre from July if the subsidy is removed in June, and could even reach N1,400 to N1,700/litre if the dollar is accessed at the black market rate.

The Executive Secretary of the Major Oil Marketers Association of Nigeria, Clement Isong, has called for an end to petrol subsidies, but also stressed the need for transparency in the management of foreign exchange.

This article was updated 5 months ago

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