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Nigeria Labour Congress (NLC) has condemned the call by the World Bank for the Federal Government to increase the price of premium motor spirit to N750 a litre.
In a statement signed by the NLC president, Comrade Joe Ajaero, labour described the World Bank recommendation as a piece of advice laden with mischief and intended to destabilize not only the nation’s economy but also Nigeria’s long term development plans.
NLC said the Bretton Wood institutions were not pro-poor but were steeped in predatory policies which rob the poor for the rich to become richer.
“It is truly a shame that the World Bank has really shown itself to be an enemy of the Nigerian nation. Its continued grandstanding and generation on anti-poor policies and programmes have destabilized many countries of the South especially nations within the sub-Saharan region. The difficulties and suffering created by the last hike in the price of PMS which was a product of the advice of the World Bank and its sister institution; the IMF are still ravaging the nation,” it said.
The NLC warned the government not to allow foreign entities dictate economic policies that are detrimental to the welfare of the citizens. The body urged Nigerian leaders to employ the potential embedded in the nation to address challenges and formulate policies that would uplift Nigerians.
“The NLC stands firm in its conviction that foreign interventions, particularly those dictated by the World Bank and IMF, have a history of exacerbating economic disparities in third-world countries. We assert that it is not only impractical but truly immoral for the World Bank to persistently advocate policies that endanger the lives and livelihoods of citizens, imperilling our nation. It is crucial for the Nigerian government to prioritize the welfare of its people over external pressures. We call on the government to resist the temptation to implement policies that cater to the interests of international bodies, even at the expense of the well-being of its citizens.
“We urge the Federal Government to distance itself from such prescription as it is an ill-motivated advice that will further devastate our nation and increase the suffering and angst in the nation,” the body said.
