Nigeria Labour Congress, NLC, yesterday rejected the Emir of Kano, Alhaji Muhammdu Sanusi II’s recent suggestion that the federal government should consider the option of devaluating the national currency, as well as total removal of subsidy on Premium Motor Spirit, PMS, otherwise known as petrol.
The umbrella body of over 43 industrial unions in Nigeria averred that the Emir’s stand on such national issues was his private opinion that had no regard for the traditional institution or his emirate where industries have totally collapsed, thus leaving the emirate with one of the highest population of victims of anti-people policies powered by neo liberal interests.
The congress apparently reacting to the submissions of the former governor of Central Bank of Nigeria, CBN, noted that “as an import driven economy, the effect of naira devaluation is more on the quality of life of ordinary Nigerians who bear the brunt of high cost of goods and services, given the fact that the exchange rate of the naira to the dollar has gone record high
from N154 to a dollar to over N225 to one dollar.
“Indeed, the purchasing abilities of both industries and individuals have incredibly dwindled and this may affect jobs security in the long run.”
President of the congress, Comrade Ayuba Wabba in a statement released in Abuja yesterday reaffirmed the decision of the labour movement to oppose the removal of subsidy and devaluation of the currency, believing that such decision would solve the problem of Nigeria.
“The issue of subsidy removal has been subject of public discourse for more than two decades and our position has not changed. We are not only opposed to it; we have provided written details of how the petroleum industry can be managed to the benefit of our collective interests.”
Comrade Wabba, however, encouraged President Muhammadu Buhari not to bow to pressure from people like the Emir of Kano and the group managing director of the NNPC, Ibe Kachiukwu, who recently joined in the call for total removal of subsidy.
“The success of our strikes and mass protests against previous attempts to remove subsidy on petroleum products indicates mass rejection of the policy and we believe the Buhari government will not yield to pressure from those who insist on privatising our collective wealth by removing subsidy on petroleum products.”
He recalled that President Buhari had publicly announced that he was not contemplating the removal of subsidy on petroleum products, expressing the support of the congress to such clear commitment of the administration to serve the interest of majority of Nigerians rather than submit to the pressure of unpatriotic few who have continuously diverted public funds to their private interests with so much latitude.


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