Subsidy removal: Brace for more shocks, LP tells Nigerians 

The Labour Party (LP) has called on Nigerians to brace themselves for more shocks following the removal of fuel subsidy by the Federal Government. The LP made the call in a press statement signed by its National Chairman, Alhaji Abdulkadir Abdulsalam, and made available to journalists in Abuja on Monday. The statement read, “We condemn in strong terms the removal of fuel subsidy by the Federal Government. The action was taken without carrying along Nigerians and labour unions, and it shows the insensitivity of the government to the plight of the masses.” The LP further stated that the removal of fuel subsidy would lead to an increase in the prices of goods, services, and transportation fares. They also warned that the action would worsen the already prevailing hardship faced by Nigerians. The statement also noted that the government has failed in its responsibility to provide and maintain functional refineries in the country, leading to the continued importation of refined petrol. The LP called on the government to revive the refineries or build new ones to meet local demand for petrol. “The government should focus on improving and expanding local refining capacity to meet local demand for petrol, rather than resorting to the removal of subsidy, which will only lead to more hardship for Nigerians,” the statement added. The LP finally urged Nigerians to join hands in rejecting the removal of fuel subsidy and called on the government to reverse the action in the interest of the masses. It can be recalled that on Sunday, the Federal Government announced that the price of petrol would no longer be regulated, thus effectively ending the long-standing subsidy on petrol and allowing market forces to dictate the price of the product.