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The Nigeria Labour Congress (NLC) has strongly criticized the recent call by the World Bank for petrol to be priced at N750 per litre, denouncing it as "mischievous" and warning of potential consequences for the nation. NLC President Joe Ajaero expressed concern that the World Bank's suggestion could ignite unrest in the country.
In a statement titled "World Bank’s N750 a Litre for Premium Motor Spirit is a Threat to Nigeria’s Economy," Ajaero asserted that the World Bank's advice was "laden with mischief" and aimed at destabilizing both the nation's economy and its long-term development plans.
The NLC accused the World Bank of being an "enemy of the Nigerian nation" and condemned its call for an increased petrol price. Ajaero stated, "It is truly a shame that the World Bank has really shown itself to be an enemy of the Nigerian nation."
The NLC vehemently rejected the recommendation, emphasizing that the call for a higher petrol price contradicted the government's earlier assertion that the subsidy was removed. The labor union highlighted that the World Bank's lead economist for Nigeria, Alex Sienaert, supported the recommendation during a presentation in Abuja, urging the government to abandon its commitment to the people.
The statement from the NLC further accused the World Bank of promoting policies that favored foreign entities over the welfare of the Nigerian citizens. Ajaero emphasized the need for Nigeria to resist external pressures and not allow foreign entities like the World Bank and the International Monetary Fund (IMF) to dictate economic policies that could be detrimental to the citizens' well-being.
The NLC concluded by reminding the government of the adverse effects of past price hikes, attributing them to the advice of the World Bank and the IMF. The labor union called for a rejection of policies that could further impoverish the poor and urged the government to prioritize the welfare of its citizens over external influences.
