5 Janaury 2012
SAN FRANCISCO, January 05, (THEWILL) - If President Umaru Yar’Adua had not died suddenly in office in 2009, the removal of subsidy on petroleum products would have since been concluded because the federal government and the current leadership of the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) had agreed to scrap the policy, THEWILL can authoritatively report.
The under-the-radar deal between government and labour leaders which was not made public because of the contentious nature of the issue would have seen government invest in some palliatives which included the deployment of mass transit buses nationwide that labour leaders would have owned and managed under a World Bank assisted loan programme.
Several authoritative sources privy to the deal said both parties were convinced that the removal of subsidy on petroleum products was in the best interest of Nigerians and the nation’s economy, as it would stop the corrupt practices of oil officials and their collaborators, while proceeds from the savings would be deployed to fund infrastructural projects.
THEWILL could not confirm if labour leaders were offered any inducements in return for their support.