Subsidy: NLC begins emergency NEC meeting

The Nigeria Labour Congress has commenced an emergency National Executive Council meeting following the increment in the pump price of Premium Motor Spirit.

The meeting which started a few minutes past 12 pm in the afternoon has in attendance executive members of the affiliate unions of the congress.
The NLC is expected to inform the public of its final decision following the meeting with the representatives of the Federal Government which ended in deadlock.
President Bola Tinubu said this in his speech speech on Monday, May 29,2023, “subsidy is gone”.

Though the president’s image makers in statements issued by the state house insisted that the new president was misquoted by some sections of the media.
Tinubu’s declaration led to an increase in panic buying with some filling stations across the country pegging the pump price of the Premium Motor Spirit to as high as N600 per litre.

Similarly, the Nigerian National Petroleum Company Limited announced a new rate for PMS on Wednesday.
The organised labour comprising Trade Union Congress and the Nigeria Labour Congress described the move by Tinubu and the NNPCL as a “joke taken too far”.

The subsidy on fuel, when removed, will be channelled into the development of other sectors, President Tinubu said on Monday.