The Nigeria Labour Congress (NLC) has warned the government against removing fuel subsidies, stating that it will lead to an increase in fuel prices and cause hardship for Nigerians.
The NLC called for the refining of crude oil in Nigeria, rather than relying on imports, and criticised the government for failing to make use of local universities to process quality control and cheaper refining processes.
The Joint Action Front, a pro-labour civil society organisation, also opposed the government’s neo-liberal policies of privatisation and deregulation, which it claimed had led to corruption and an artificial fuel crisis.
Major oil marketers and the Independent Petroleum Marketers Association of Nigeria supported the removal of subsidies, arguing that it would attract investment and growth in the sector.
However, the Centre for the Promotion of Private Enterprise warned that the removal of subsidies could lead to social and political backlash if not tactically managed and called for a sustainable and pragmatic policy transition strategy.
The rehabilitation of refineries and support for the Dangote Refinery were also recommended.
Article updated 22 hours ago. Content is written and modified by multiple authors.
