Labor

What a nice political move!!
The next government will surely implement it

Same move Fashola did lekki toll gate back then

Very simple, fix the refineries and stop fuel importation.No need for fuel subsidy.

This useless government is taking Nigerians for a ride.

They should have stood their ground na.

Is the planned protest still taken place? Thats all what workers want to hear, because people cant be mobilizing for such, only for it to be stopped in the last minute, thats why our citizens dont seem to trust the labour movement in this country anymore, as this government always find several means of stopping any form of protest , even though they know the hardship most masses are facing due to their obnoxious policies.

We say NO to increment of fuel prize... Useless set of politicians

Make that guy go relax. FG chill cux of election, not because of Strike or protest..

The government is only bidding its time, subsidy removal is imminent

The say it has been suspended indefinitely and now you say they reengage you for negotiations over what ?

Maxymilliano:
The government is only bidding its time, subsidy removal is imminent

It's beyond Govt now it's what the globalists are seeking for

NLC is just like vegetables to Nigerian government

Shame to those clowns that parade themselves as state governors

Anyway, elections is around the corner that's why

"Seriousness and commitment "to demonstrate good governance,
All this in this APC led government are totally out of stocks,
Please say something else oga NLC.

In her classic song, I Will Survive, Gloria Gaynor sings about a bad relationship that just won’t go away. It’s not far off Nigeria’s experiences with fuel subsidies. And the government might want to bear in mind Gaynor’s advice for how to move on: “I should have changed that stupid lock—I should have made you leave your key—if I’d have known for just one second you’d be back to bother me”.

Because it’s hard to believe the recent announcement from NNPC Group Managing Director Mele Kyari that “It is zero subsidy forever”. Does NNPC, as a government entity for oil business, have the authority to make this profound policy commitment? Why has the Federal Ministry of Petroleum Resources and the Petroleum Products Pricing and Regulatory Authority remained rather silent?

History does not inspire confidence. President Buhari already attempted to reform fuel subsidies back in 2016. At the time, it was supposed to be a permanent removal, yet subsidies were back in under two years. Indeed, since the 1970s, 11 out of 12 of Nigeria’s heads of state have attempted to reform fuel subsidies, with no long-term success.

Read also: COVID-19: NNPC Commences Construction of 200-Bed Infectious Diseases Hospital in Yenagoa

If almost everyone wants to get rid of subsidies, why do they keep coming back? The government knows well why they are a problem. The biggest benefits go to people who own vehicles, which is a small share of the population. Fuel companies can’t charge prices that cover their costs, which has repeatedly crippled supply. In 2018, survey research found that 15 percent of people couldn’t buy fuel at all, and a further 18 percent paid black-market prices far above the official subsidised price. Subsidies also waste scarce resources. Since 2006, fuel subsidy expenditure has been higher than budgets for far more important state functions, including education, health, defence and infrastructure.

In the end, fuel subsidies come back because it takes more to get rid of a bad relationship than just saying that it’s over. You need to change the locks, throw away the key—and move on.

The “locks” part of this is to just stop fixing fuel prices. The government has already tried to implement a price adjustment formula. It doesn’t work because it requires constant political commitment when world oil prices rise. At this point in time, it looks like full deregulation may be the only realistic way to cut the cord. That means letting anyone import and sell fuel, so prices are decided by the costs of supply and competition. It also means real, measurable government action to implement change responsibly—a lot more than just words. This includes competition law and empowering a regulator to transparently monitor prices, enforce rules and respond to complaints.

The “moving on” part is that Nigeria needs a better way to help citizens cope with economic shocks. Never has this been clearer than now, when the country is suffering a joint health and economic crisis in which millions will be unable to meet their essential needs, potentially leading to a humanitarian disaster. Nigeria lacks tools to effectively support people on issues like income, food, jobs and health. In fact, one of its recent moves was to go back to what it knows, and just reduce fuel prices…which has been shown in study after study to largely benefit the better off and prevent investments in something better.

This underscores just how much the fuel subsidy relationship has been abusive. Nigeria goes back to fuel subsidies because it doesn’t have better ways to help people; but it doesn’t have better ways to help people because it’s been wasting money on fuel subsidies. The Nigerian Institute for Social and Economic Research estimates that the budget for fuel subsidies in 2019 was sufficient to have enrolled the entire population of Nigeria in the National Health Insurance Scheme (NHIS)—a shocking fact in a year where tens of millions of Nigerians are scared in a health crisis with grossly inadequate support and poor health infrastructure. Since 2006, fuel subsidies have taken up over N10 trillion of resources.

We need to break this cycle with meaningful, effective policies to help the poorest and most vulnerable—again, not just more words. This will take resources in a year with no resources. But over the last decade, Nigeria has had no problem maintaining costly fuel subsidies while running enormous deficits. For there to be change, the government must give social protection the same level of fiscal priority that it has given to fuel subsidies. A year of “subsidies gone forever” must be a year of “social protection at the forefront” includes those who may inadvertently suffer from fuel price deregulation.

The hardest part of ending a bad relationship is falling into the mindset that you can’t get out—that this is the best you are ever going to get. Nigeria needs to reject defeatism and believe it can build a better future.

Other countries can become sources of inspiration. Indonesia deregulated fuel prices in 2014. Despite some ongoing problems with subsidies, the reform allowed it to make massive investments in cash transfers, school assistance and health insurance, paving the way for eventual independence from the subsidy. Similarly, India deregulated its prices for gasoline and diesel once and for all back in 2010 and 2014, respectively. During the recent price crash, it hasn’t turned back to fuel pricing as a way to support people—it’s taxing fuel while prices are low, to raise revenue to help fight COVID-19. Costa Rica is doing exactly the same thing. Fuel prices are being fixed—but at above market prices—and the revenues will pay for a compensation program to help workers cope with the ongoing crisis.

These countries—Indonesia, India, Costa Rica—are all developing countries with features comparable to Nigeria, and have remarkably demonstrated that fuel subsidy reform and taxation is a pathway to improving government revenue for the benefit of the poor through social investments.

Nigeria and its people have suffered enough self-harm from the toxic relationship with gasoline subsidies. They deserve better. It’s time for all stakeholders—government at all levels, private sector organisations, labour unions, civil societies, students and youth groups—to stand up and agree that fuel subsidies aren’t welcome any more. It’s time to dump this bad relationship and start over

.

Source: Businessday newspaper online
Fuel subsidies have been bad for Nigeria – dump them for good

Damidave1124:
Federal government removed subsidy sometimes ago, we didn't say anything.
They still want to remove subsidy that has been removed so many time, they still expecting us to keep quite.

Kudos to NLC & TUC for threatening them with strike and mass protest

The federal government just prevented mass and immediate revolution that could have lead to disintegration of this country

The federal government just prevented mass and immediate revolution that could have lead to disintegration of this country

The Approaching "Election cold" catch the satanic govt of SELF SERVING THIEVES AND BLOODTHIRSTY TERRORISTS!
Removal of the subsidy I'll be the final nail on the coffin of this useless govt! Awon ole, jegudu jera, eleribu, mashanfani eda gbogbo!

I do imagine when some Nigerians are talking about government. The government that derives maximum joy by causing the people that voted them in hardship, suffering and despondent. To hell with all of them. To me I don't have any government. Useless government everywhere.

APC Givernment knows that it would be very stupid and face obvious defeat if they ever contemplate removal subsidy on fuel close to a crucial election. Any fuel increase now will exacerbate the downward spiral of an already weakened economy to such a level that immediate crisis and unrest would ensue in Nigeria worse than the end SARS crisis.
What did they do to resolve it, they are going to borrow to fund subsidy this year so that you give them your vote next year's election after which they will still remove the subsidy.
The only hope for Nigerian people against astronomical increases in fuel price is the prospect of Dangote refinery coming on board with 640,000 barrel of crude as boasted.
Meanwhile a man lost election in 2019 for saying he would sell off the Government refineries that have become major drain pipes of the revenue of government. Federal government pays subsidies in excess of a trillion annually at 100 million litres daily consumption (criminally concocted figures by the oil Mafia), but cannot run 3 refineries successfully. There seems to be an organised economic conspiracy against the Nigerian people by their government.

fg suspends fuel subsidy removal ! lolz

they will soon bring it back and ppl will even be begging for it to be introduced when they start fuel scarcity in a couple of months

Damidave1124:
Federal government removed subsidy sometimes ago, we didn't say anything.
They still want to remove subsidy that has been removed so many time, they still expecting us to keep quite.

Kudos to NLC & TUC for threatening them with strike and mass protest

It was not these toothless Unions that made federal government to change their decisions rather it was Abdulsalami Abubakar that told federal govt of the consequences of their decision,that it could consume the country.
He further cited the end sars issue that almost wiped away the country.
Whether they remove fuel subsidy or not,we shall vote them out this time.

How much

StayMotivated:
Please check my profile. I have a clean 2010 Lexus Es350 for sale, abeg make una help me make my first sale.

FalseProphet1:
NLC should stop behaving as tho their proposed strike action is what propelled the government to suspend the fuel increment.

The government suspended the fuel hike because of next year elections and not because of the barking of the toothless dog called NLC.

This I have seen.

say if them increase fuel election no go hold or people no go vote or them no go still rig am?
My guy if them carry am go 500naira Dem go still do wetin Dem wan do,those guys are devils

Because of 2023 general elections, they (Federal Government) decided not to remove subsidy because they will fail woefully if they remove fuel subsidy.
Note this: They will automatically remove fuel subsidy once they gain power again in 2023.

They should go ahead with the warning strike.

My question remains what exactly does this current government do without inflicting more hardship on its masses? You have increased almost everything the common man afford but you can't increase the minimum wage to at least 50k since everything has gone up salaries should increase as well

Damidave1124:
Federal government removed subsidy sometimes ago, we didn't say anything.
They still want to remove subsidy that has been removed so many time, they still expecting us to keep quite.

Kudos to NLC & TUC for threatening them with strike and mass protest

Bro if they put fuel price at 375 Naira per litre. . Non of them will survive it. .

Let me tell you. . END SARS protest will be a child's play.

They are crazy. . Becoz we have been quiet abi?

Subsidy that they have remove since, and they want to continue remove it untill we buy 1k per liter

I am very sure that Nigeria refinery are very much in good condition, but it is glaring that the refinery is not allowed to function or working below capacity. And now Dangote is about to finish his refinery. Only God know how much a litter of petroleum will be sold then.

NLC committee must continually try to install brave men of integrity and righteousness, real activist as leaders. NLC is the hope of Nigeria, this is the weapon of the people, to ensure Nigeria continuous, otherwise politicians will destroy the country with their greediness. NLC must keep agitating, mobilizing, sensitizing the people. The position of NLC us a righteous position...don't play with it.

Ginomel:
Very simple, fix the refineries and stop fuel importation.No need for fuel subsidy.

This useless government is taking Nigerians for a ride.

They think we are fools . . We are waiting for them . . Everyone of them will burn if they are not careful. Wicked souls.

No one is saying that the fuel subsidy wont go away eventually but,beyond the upcoming election as reason behind the suspension,do we know the grave consequences of removing subsidy when there are no local refineries in place?
There will be untold hardship that will adversely affect not just the economy but everyone no matter their financial status!
This will cause anarchy and what followed the #EndSars protest will be child's play compared what we may witness post Subsidy removal!

Now that the NNPC has been privatised,they should start giving out licenses to those who intend investing or building refineries in the country!

The federal government should start rehabilitating the remaining 3 moribund refineries and ensure the modular refineries that they managed to build start refining as soon as possible!

Once we are able to have more than enough capacity locally to supply consumers with enough refined products, subsidy will die a natural death!

If the current administration had taken loans very early in their first term to modify and rehab those dying refineries,by now,we would have been talking about building new refineries to compliment the ones already functioning!