The Nigeria Labour Congress (NLC) has strongly warned the Federal Government against the World Bank’s recommendation to raise the price of Premium Motor Spirit (PMS) to N750 per litre.
In an interview with The Punch, Benson Upah, the Head of Information for the NLC, expressed concern that any increase in petrol prices could cause widespread chaos across the country.
Upah urged the government to reject the World Bank’s proposal, emphasising the potential social unrest that could arise from the current prices, which range from N620 to N650 per litre.
He said, “The World Bank is globalist north in thoughts and actions and has little or no consideration for the global south. It is a predatory institution that the global north uses to justify its crimes against the south.
“It is almost single-handedly responsible for the ruination of the economies of countries of the global south, for which it prescribes one solution for all ailments.
“It does not care what happens to Nigeria or Nigerians, so it could, from its perch in Washington, say whatever it likes or push around our leaders like house helps.
“The truth, however, remains that the present regime of the pump price of PMS has all but destroyed the country. To now ask the government to raise it to N750/litre is to invite anarchy upon the land.
“The World Bank is so hypocritical that it fails to see the nexus between price and capacity. The minimum wage in Nigeria for a privileged few is N30,000. The same minimum wage in the United States, where the law is enforced, is N1.5 million.
“In light of this, if the government knows what is good for it, it should ignore the World Bank but must remain committed to fighting inherent corruption in the downstream sector of the petroleum industry. It must also cut down on the high cost of governance.”
