The Nigeria Labour Congress (NLC) has advised the Federal Government to invest the moneys recovered from treasury looters in building new refineries and revamping the existing ones.
In a communique issued by the NLC President, Comrade Ayuba Wabba, and the General Secretary, Comrade Peter Ozo-Eson, after the NEC meeting which held over the weekend, the congress further rejected the attempt to remove fuel subsidy through the back doors ”in form of price modulation.”
The communique read, “All moneys recovered from looters of our national treasury should be invested in building new refineries and revamping the existing ones. Our refineries must be made to work to optimal capacity in order to meet local need.
“Congress rejects attempts to remove subsidy on petroleum product, noting that it is illegal and unjustifiable, as due process is not being followed.
“Congress said subsidy removal will not add any value to the economy. Rather, it will create more hardship for Nigerians, especially the poor and the weak.”
The NLC further urged the FG to probe road contract awards in the country adding that most of the road networks are death traps, causing wanton destruction of lives and property.
“Congress also resolved that government should beam its searchlight on other sectors of the economy such as road contracts etc., with a view to recovering every kobo not accounted for.”
On workers’ salaries, the communiqué said “Congress observed that in most states, salaries and pensions are not being paid regularly in spite of the well-thought-out bail-out fund program by the federal government. This has thrown workers and their families into great hardship and embarrassment. Congress noted that as a response to this economic downturn, the IMF, World Bank and neo-liberal Economists are putting pressure on the government to further devalue the Naira as well as raise the VAT. Governors and some private-sector employers on their part are considering mass retrenchment with Imo state leading the negative way.
“Congress believes that neither non-payment of salaries nor mass retrenchment is an acceptable option in the circumstance. Congress holds the view that at difficult moments like this, reflationary measures should be adopted to empower workers and stimulate the economy.
Congress urged government to take measures that will stimulate production, develop infrastructure and boost aggregate demand. Congress urged government to take urgent steps to diversify the economy with an emphasis on agriculture, solid minerals and manufacturing.”