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50K reduction in pump price ridiculous – NLC

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The organised labour has described as ridiculous the reduction of the fuel pump price by 50 kobo.

In his New Year message issued on Thursday, the President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba said the 50 kobo reduction in the price of petrol announced by the government is a gimmick and an IMF inspired fuel price deregulation which will, in the long run, inflict hardship on the Nigerian people.

The congress is also advocating for the introduction of property tax by both states and federal governments as a way of generating additional revenue for government rather than the insistence on the removal of fuel subsidy by the government.

The Congress lamented that certain political and judicial office holders who are far less than 18,000 persons are earning an astonishing N1.126 trillion annually, pointing out that it is unfortunate that the National Assembly have refused to reduce their allowances as a way of reducing the cost of governance.

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Reviewing the activities of the outgone year, Wabba disclosed that only eight of the 36 states of the federation are complying with the provisions of the Contributory Pension Act by paying the Retirement Savings of their workers, while another six states have commenced funding of their retirement benefit bond redemption fund accounts.

“The working people and the rest of the poor mass of our people are entering the New Year against the backdrop of these uncertainties and other challenges. Given the massive support Nigerians gave President Buhari as a symbol and icon of change, they expectedly harbour tremendous expectations that his government will deliver on a number of areas but we’re still anxiously expecting the promised change.”

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