The Nigeria Labour Congress (NLC) has criticised the Federal Government for implementing the policies of Bretton Woods institutions, stating that the removal of subsidies and increased tariffs are impoverishing Nigerians.
“They keep on impoverishing us through ridiculous taxes. A time will come when people can afford to pay but will refuse to do so,” NLC spokesman Benson Upah said on Channels Television’s Sunrise Daily programme on Thursday.
The labour union official rejected the recent announcement of a 50% increase in telecom tariffs by the Nigerian Communications Commission (NCC) and the proposed 5% rise in the cost of data and calls.
He stated that there was no going back on the nationwide protest scheduled for Tuesday, 4th February 2025, to express the group’s displeasure over the newly announced telecom tariff hike.
Upah said, “This rally is to put a stop to this senseless tariff increase. And if, by any chance, there has to be a rise at all, 5%—considering our current situation and the fact that there have already been increases across the board—would be the absolute maximum.
“But to now impose a 50% hike? That will not happen. Where will ordinary Nigerians find themselves at the end of the day when energy tariffs are also rising?
“Manufacturers are struggling, the middle class is struggling. Ordinary Nigerians on the streets cannot even afford to turn on the lights in their living rooms. When taxes are low, more people pay them than when they are excessively high.”
The World Bank and the International Monetary Fund (IMF) have consistently advocated for the removal of energy subsidies and the floating of the naira, arguing that failure to implement these economic policies has driven Nigeria into severe inflationary pressures.
Following his inauguration in May 2023, President Bola Tinubu, former governor of Lagos, removed the petrol subsidy and floated the naira. Petrol prices more than quadrupled, soaring from under ₦200 per litre to over ₦1,100 in many parts of the country. The naira also plummeted, tumbling from around ₦700/$ to ₦1,600.
Food and commodity prices have skyrocketed, as Nigerians endure what could be described as the worst cost-of-living crisis since the country’s independence over six decades ago.