NIGERIANS SUFFERING FUEL PRICE HIKE

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The President of the Nigeria Labour Congress, Joe Ajaero, has lamented that Nigerians have been suffering as a result of the hike in the price of fuel.

He also described Nigerians as losers for adapting to the rise in fuel prices.

Ajaero stated this themed “Tinubu’s Economic Reforms: Gainers and Losers.

He, however, noted that it is not too early to measure the indices of failure as well as that of winning.

He stated that “the masses are the losers because Nigerians who were once buying fuel at N187/liter, now have to do so at the rate of N700/liter”.

Despite the increase, he said there was no increase in salaries and wages, adding that the masses were suffering as a result.

Meanwhile, he noted that it took former President Muhammadu Buhari eight years to move from N260/dollar to N700/dollar, saying “Within six months, it moved from N700/dollar to N1,350/dollar under Tinubu. So who are the losers?” he asked.

These happenings, Ajaero said, “are a situation of public disaster and private gain.”

He stated, “We are living in a prodigal economy and 99 percent, if not 100 percent of privatised companies in Nigeria have failed.”

Ajaero who noted that the country has been on an increasing debt journey, queried, “Who do you think will pay it?

“I know they tell you that you have to suffer a bit so you can gain, but it has been the same story since forever.”

He concluded by saying that companies are closing down and there is growing unemployment in the country, “so we need policies to keep people in their jobs and not the other way around.”

Following his election, President Bola Tinubu declared the removal of fuel subsidy.

Tinubu noted that the fuel subsidy had to end because the country could not maintain it.

He added that the trillions of naira yearly spent to sustain the subsidy were meant to better the healthcare and transportation sector, schools, housing, and national security, among others.

Tinubu said the money was being funnelled into the deep pockets and lavish bank accounts of a select group of individuals.