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The Planned NLC strike!
It has been reported that NLC will go ahead with the strike action scheduled to commence Oct 01.
The demand of Labor Union is that FG reverse the recent increase in fuel & electricity prices.
These demands are irresponsible for the following reasons
It has been reported that NLC will go ahead with the strike action scheduled to commence Oct 01.
The demand of Labor Union is that FG reverse the recent increase in fuel & electricity prices.
These demands are irresponsible for the following reasons
1. As a result of Covid19 enterprise environmental factor, Government revenue has declined 60%. Govts all over the world resorted to what is known as “Manage strategic change”. NGR is not alone. KSA increased VAT by 300% and suspended social benefits. India increase fuel price
Some Governments resorted to layoffs and salary cuts. It is a bad situation globally.
2. With 60% decline in revenue, the yearly $1B subsidy funding simply vanished. Labor unions are lucky that in this precarious situation, Govt is still able to pay salaries. Yes, that Govt of NGR can still pay salaries should not be taken for granted. The situation is that bad.
3. The current fuel price in NGR remains one of the lowest in the world. PMS sells for ÂŁ1.24 (N600:00) per litre in the UK and $0.70 (N340) in USA.
Technically, FG of Nigeria is still subsidizing PMS by not applying the 30-50% tax on PMS as seen in USA, UK and other countries.
Technically, FG of Nigeria is still subsidizing PMS by not applying the 30-50% tax on PMS as seen in USA, UK and other countries.
4. The labor unions should tell us countries that develop by applying yearly subsidy of S1B on PMS. The money is better spent to build roads, school and hospitals.
5. The common man is not a beneficiary of PMS subsidy. The main beneficiaries are the embassies, the telecom, banking, construction industries, & multinational that consume millions of litres of pms per day.
6. Other beneficiaries include those engaged in cross border smuggling of PMS and the importers who engaged in subsidy scam. The common man has never benefitted from PMS subsidy.
7. In my opinion, the price of PMS will further increase in the near future as oil prices recover or Naira depreciates. We must brace up for these inevitable challenges and continue to support the Govt to protect the economy.
8. Labor unions, in particular, the NLC should be seen as patriotic and work with the Govt to grow our economy, not destroy it.
9. I do not see a reversal of PMS or electricity prices by the Govt. That would be a wrong thing to do. Therefore, it is my opinion that NLC is fighting a needless and lost battle.
10. This Govt is very sensitive to the plight and hardship of the common man and is clearly doing a lot to mitigate hardship on the common man. We should continue to support Govt effort to make Nigeria “A shining city on a Hill”
God bless Nigeria - OA
God bless Nigeria - OA
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