The Nigeria Labour Congress (NLC) has faulted the claim by Lai Mohammed, Minister of Information, that fuel price in Nigeria is cheaper in comparison with that of other countries.
Defending the government’s decision on the recent fuel price hike on Monday, the Minister had said despite the increase in the price of petrol, it remains among the cheapest in Africa.
But Ayuba Wabba, NLC President, argued, in an Interview with The Punch, that Mohammed’s basis for comparison was faulty, given that Nigeria’s currency consistently grown weaker, thus reducing the purchasing power of Nigerians in buying the petroleum product.
“That comparison cannot even stand because our currency has been on free fall and it has been devalued over and over again. So, the basis for comparison is faulty. If they (other countries) have stronger currencies, it means our currency is weak,” Wabba said.
“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.”
The NLC President went further to condemn the government for increasing the price of fuel and electricity at the same time, describing their actions as insensitive.
“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,” he said.
“You can see the impact already in the prices of bread which have increased from N250 to N300.”
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