The President of the Nigeria Labour Congress, Joe Ajaero, has expressed concerns over the hardships faced by Nigerians due to the increase in fuel price.
Ever since President Bola Tinubu became the president of Nigeria, the hardship of the people increased exponentially. The price of everything has increased, and if for any reason you ask why, the answer will be, “you sabi how much dem de sell fuel?”.
Let us draw your attention to a trend that you are yet to notice, or perhaps you have.
The increase in the fuel prices may have truly affected the price of goods and services, but trust Nigerians, others, especially business owners, have turned this to their own advantage.
There are many who have turned the increase in fuel prices to a legal excuse to extort Nigerians. Our Lagos brothers and sisters can relate better, because many Danfo drivers and conductors are guilty of this.
The Dialogue
One cannot totally blame these people, because as Nigerians, we aide this extortion with the way we quickly adapt.
This was one of the things the NLC president pointed out.
He lamented that Nigerians have been enduring the consequences of the fuel price hike and described them as losers for adapting to the rising costs.
Ajaero made these remarks at the 21st Daily Trust Dialogue.
It was focused on the theme “Tinubu’s Economic Reforms: Gainers and Losers.”
Nevertheless, he acknowledged that it is not too early to assess both the indicators of failure and success.
No Salary Increase
He stated that “the masses are the losers because Nigerians who were once buying fuel at ₦187/liter, now have to do so at the rate of ₦700/liter“.
Despite the hike, he highlighted that there hasn’t been a corresponding increase in salaries and wages.
Ajaero maintained that the general populace was experiencing hardship.
Furthermore, he pointed out something during the tenure of former President Muhammadu Buhari.
He noticed that it took eight years for the exchange rate to move from ₦260/dollar to ₦700/dollar.
He said: “Within six months, it moved from ₦700/dollar to ₦1,350/dollar under Tinubu. So, who are the losers?” he asked.
A Prodigal Economy
According to Ajaero, these happenings “are a situation of public disaster and private gain.
“We are living in a prodigal economy, and 99%, if not 100% of privatised companies in Nigeria have failed”.
Ajaero, who noted that the country has been on an increasing debt journey, queried: “Who do you think will pay it?
“I know they tell you that you have to suffer a bit so you can gain, but it has been the same story since forever”.
He concluded by expressing concern over the closure of companies and the escalating unemployment rates in the country.
In his words: “So we need policies to keep people in their jobs and not the other way around”.
The Big Announcement
Indeed, on the day he was sworn-in President Bola Tinubu announced the removal of the fuel subsidy, emphasising that it was unsustainable for Nigeria.
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He further explained that the trillions of naira annually allocated to sustain the subsidy could be redirected to enhance sectors such as healthcare, transportation, education, housing, and national security.
Nigerians are yet to witness these enhancements. In fact, many have said that they may die of hunger and starvation before this promise come to life.
As a matter of fact, many others have said that they no longer want fuel subsidy to be removed. This category of people cry out daily that they miss Buhari.
President Tinubu had argued that the funds were being diverted into the extravagant bank accounts of a privileged few.
