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CSO to FG: Consider short-term reduction of petrol price | Resolutions must favour Nigerians

CSO to FG: Consider short-term reduction of petrol price | Resolutions must favour Nigerians
June 07
16:31 2023

The Centre for Transparency Advocacy (CTA), a civil society organisation, has asked the federal government, Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to prioritise the interest of Nigerians as they negotiate petrol subsidy removal.

In a statement on Wednesday, Faith Nwadishi, executive director of CTA, said the joint committee constituted by the government and organised labour should develop a transparent implementation plan for the resolutions.

The NLC and TUC had on Monday suspended the planned strike and mass protest against the removal of petrol subsidy, to continue negotiations with the government.

Nwadishi said the step taken by the government and the NLC indicates positive action toward addressing the issue of subsidy removal.

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She asked the government and the labour congress to ensure the resolutions are long termed and also aligns with the interest of Nigerians.

She said the government should consider the short-term plan of reducing the price of petrol to alleviate the pains the subsidy removal will have on citizens.

“This plan should outline clear timelines, responsibilities, and performance indicators to ensure accountability and progress monitoring,” she said.

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“Transparency and appropriate broad-based stakeholder consultations in the execution of the planned measures are crucial to maintaining public trust and ensuring the effective delivery of benefits to Nigerians.

“The need for an immediate reduction in the price of premium motor spirit (PMS) to reflect the proposed date of subsidy removal, which is set for the 30th of June 2023. This reduction is crucial to alleviate the sudden financial burden on citizens while the palliatives plan is implemented immediately.

“As the government and stakeholders work towards the successful implementation of the proposed palliatives, it is essential to take into consideration the immediate concerns of Nigerians who have been affected by the recent fuel price hike.

“Lowering the PMS price in anticipation of the subsidy removal will provide immediate relief to citizens, ensuring that their pains are cushioned during this transitional period.”

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The executive director said the federal government, TUC, and NLC should clarify the specific timeframe for the utilisation of the World Bank loan of $800 million.

She added that clarifying the loan will ensure the effective allocation and utilisation of the loans for projects expected to create employment, infrastructure development,  and economic diversification.

“Alternative palliatives to cash transfers: In addition to reviewing the cash transfer scheme, the CTA recommends exploring alternative palliative measures that have an immediate and impactful effect on the lives of Nigerians,” she added.

“These may include subsidized transportation fares, targeted support for vulnerable populations, and the provision of essential commodities at affordable prices.”

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