The Nigeria Labour Congress (NLC) strongly criticized the World Bank’s recommendation for the Federal Government to raise petrol prices to N750 per litre.
Joe Ajaero, the President of NLC, voiced this opposition on Friday in Abuja through a statement titled: ”World Bank’s N750 per litre for premium motor spirit is a threat to Nigerians economy”.
The advice was put forth by Mr. Alex Sienaert, the World Bank Lead Economist for Nigeria, during the presentation of the Nigeria Development Update in December 2023. Sienaert highlighted that the federal government might still be subsidizing fuel, as current prices in the country do not reflect actual costs, proposing a price of N750 per litre.
But Ajaero said, “We vehemently reject the recent advice by the World Bank which has asked the Nigerian government to increase petrol prices to N750 per litre.
“It is truly a shame that the World Bank has really shown itself to be an enemy of the Nigerian nation.
“Its continued grandstanding and generation of anti-poor policies and programmes have destabilised many countries of the South, especially nations within the sub-Saharan region,” he said.
(NAN)