NLC, PDP, LP issue stern warning over Fuel price as World Bank recommends N750/litre

In separate interviews with journalists, the Nigeria Labour Congress (NLC, the Peoples Democratic Party (PDP, and other stakeholders said the World Bank is not sensitive to the plight of Nigerians.

They warned the government against heeding the World Bank’s advice, citing the current economic situation in the country.

This is coming after the bank last week advised the federal government to review the pump price of Premium Motor Spirit, PMS.

The World Bank on Wednesday, December 13, claimed that the government may still be paying for fuel subsidy, which was removed by President Bola Tinubu on May 29, 2023.

The bank claimed that the current price of fuel in Nigeria was not cost-reflective, saying it has to be reviewed upward.

The World Bank said the price of petrol should be around N750 per liter, more than the N650 currently being paid by Nigerians.

NLC spokesman Benson Upah told newsmen that the World Bank was unperturbed about happenings in Nigeria, stressing that it would result in anarchy if the government followed the suggestion of the World Bank.

According to Upah, the current fuel price has already “destroyed the country,” and there is no need to hike the pump price further.

He alleged that the World Bank “is Globalist North in thoughts and actions and has little or no consideration for the Global South.

Last Friday, the National Bureau of Statistics (NBS disclosed that Nigeria’s food inflation increased to 32.84 percent in November from 31.51 percent recorded in the previous month.