NLC Carpets World Bank For Advising FG To Sell Petrol N700 Per Litre

The Nigeria Labour Congress (NLC) has condemned the advice by the World Bank to the Federal Government to increase petrol prices to N750 per litre.

NLC President, Joe Ajaero said this on Friday in Abuja in a statement, titled: ”World Bank’s N750 per litre for premium motor spirit is a threat to Nigerians economy”.

It would be recalled that the World Bank Lead Economist for Nigeria, Mr Alex Sienaert, offered the advice recently during a presentation of the Nigeria Development Update, Dec. 2023 edition.

The economist had noted that the federal government may still be paying fuel subsidy, considering that fuel prices are currently not cost-reflective in the country, suggesting N750 per litre price.

But Ajaero said, “We vehemently reject the recent advice by the World Bank which has asked the Nigerian government to increase petrol prices to N750 per litre.

“It is truly a shame that the World Bank has really shown itself to be an enemy of the Nigerian nation.

“Its continued grandstanding and generation of anti-poor policies and programmes have destabilised many countries of the South, especially nations within the sub-Saharan region,” he said.

(NAN)