The Nigerian Labour Congress (NLC) has debunked the claim by the Nigerian Government which said Nigeria has one of the lowest petrol prices in Africa.
According to the NLC, not only is the assertion untrue, the new hike in fuel prices has wiped out any gains made with the recently implemented N30,000 minimum wage.
According to the NLC President, Ayuba Wabba, there is no economic basis for the claim by the Federal Government based on the recent devaluation of the Naira.
The Federal Increased the ex-depot price of petrol in August which led to marketers adjusting the pump price to between N158 and N162.
The Minister of Information and Culture, Alhaji Lai Mohammed said despite the increase, petrol was being sold cheaply in Nigeria compared to other African countries.
Ayuba Wabba however said the Minister failed to take note that the Naira has been on a free fall, rendering even the new minimum wage useless to workers.
Speaking in an interview with a major Newspaper, the NLC President said;
That comparison cannot even stand because our currency has been on free fall and it has been devaluated over and over again. So, the basis for comparison is faulty. If they (other countries) have stronger currencies, it means our currency is weak.
Not only petroleum products but all other commodities are also expensive in Nigeria because of the free fall of the naira. Can they also make the comparison on the basis of the stability of the currencies of other countries over the years and the instability of the Nigerian currency over the last five years? You can then get the answer.”
He stated further that the minimum wage was not commensurate with the increase in the price of petrol and said the government should have considered the impact of its decision on workers.
See Also: Over 2000 Lagos Indigenes Rescued From Traffickers In 16 Years- NAPTIP
“The point we have made is that many Nigerians have been pushed to the edge and it is insensitive to increase the prices of the two commodities at the same time-petroleum products and the electricity. You can see the impact already in the prices of bread which have increased from N250 to N300.”
The NLC Chairman for Ogun State, Emmanuel Bankole also dismiseed the comparison of the Minister saying;
“What is the minimum wage the workers in those countries are receiving? Those are the things to consider. The facilities in those countries, can we compare ours with those ones? That comparison is fake.”