NLC Reacts To Tinubu’s Speech On Palliatives (FULL STATEMENT)

NLC Reacts To Tinubu’s Speech On Palliatives (FULL STATEMENT)

The Nigeria Labour Congress (NLC) has criticized the palliative measures announced by President Bola Tinubu to mitigate the impact of petrol subsidy removal on the citizens. The NLC president, Joe Ajaero, stated in a statement on Monday that the government’s proposed programs are disconnected from the current economic realities and the hardship faced by the poor.

President Tinubu had removed petrol subsidy during his inauguration speech on May 29, 2023, resulting in a significant increase in petrol prices and a surge in food prices and general inflation.

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In his recent address, Tinubu promised to review workers’ salaries and minimum wage. He also announced a N75 billion palliative for the manufacturing sector, benefiting 75 businesses over a nine-month period. Furthermore, he recognized the importance of micro, small, and medium-sized enterprises and the informal sector as drivers of growth, declaring a N125 billion fund to support them. Additionally, Tinubu stated that N200 billion would be invested in the agricultural sector to support the cultivation of 500,000 hectares of farmland.

Despite these measures, the NLC expressed disappointment that Tinubu did not address the revival of public refineries, which have been non-operational for years.

The NLC previously threatened to hold a nationwide protest beginning on August 2, 2023, if the government fails to take appropriate action.

See full statement below;