The recent increase in petrol prices by the federal government has sparked a wave of discontent among Nigerians, with the Nigeria Labour Congress (NLC) and former Vice President Abubakar Atiku leading the charge against the controversial hike. The NLC has called for a mass revolt, while Atiku has warned that the situation will worsen with additional plans to increase Value Added Tax (VAT).
The NLC's President, Joel Ajaero, represented by Deputy President Prince Adewale Adeyanju at the 2024 annual workshop of the Labour Writers Association of Nigeria (LAWAN), condemned the price hike as a result of flawed policies by the Tinubu-led administration. Ajaero highlighted the severe impact on transportation and food costs, the devaluation of the naira, and rising electricity tariffs, which have exacerbated the financial strain on ordinary Nigerians.
Former Vice President Atiku Abubakar criticized the government's VAT increase, set to rise from 7.5% to 10%, as a regressive move that will deepen Nigeria's cost-of-living crisis. He argued that this policy, combined with the recent petrol price hike, reflects a lack of empathy from President Bola Tinubu and his administration towards the struggling population.
In response to the deteriorating situation, human rights lawyer Femi Falana, SAN, has urged the federal government to expedite the rehabilitation of Nigeria’s refineries by September 2024 or face legal action. Falana criticized the delays by contractors Tecnimont SPA and Saipem in fulfilling their $2.9 billion contracts for refinery upgrades.
The Socio-Economic Rights and Accountability Project (SERAP) has also joined the fray, calling on President Tinubu to reverse the petrol price hike and probe allegations of corruption and mismanagement within the Nigerian National Petroleum Company Limited (NNPCL). SERAP emphasized that the price increase is not only unconstitutional but also exacerbates poverty and inequality in the country.
As Nigeria grapples with these economic challenges, the government's response will be closely watched to determine whether it can address the growing unrest and economic hardship faced by its citizens.
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