NLC is wrong, President Tinubu did not betray or deceive anyone on fuel price – TDF

The Democratic Front (TDF) has said that President Bola Tinubu did not betray or deceive the Nigeria Labour Congress (NLC) on fuel price in arriving at the N70, 000 minimum wage.

TDF added that Labour and government mutually negotiated and agreed on the minimum wage.

In a statement signed by the Chairman Mallam Danjuma Muhammad and Secretary Wale Adedayo, TDF maintained that the President could not have been emphatic and decisive on the pump price of fuel in a deregulated market.

TDF said: “Once again, we are disappointed with the often repeated wrong postulations of the Joe Ajaero-led Nigerian Labour Congress against the government and person of President Bola Ahmed Tinubu, adding that most of what they say can not add up.

“In a rather disheartening and incoherent manner, Mr. Joe Ajaero signed a statement alleging that President Bola Ahmed Tinubu betrayed the Labour Congress with the recent increase in the pump price of PMS by the Nigerian National Petroleum Company Limited (NNPCL).

The negotiation of the minimum wage was never debated as a condition to how much fuel would be sold.

“It is pertinent to state that President Tinubu never hid his desire or pretended over his preference to make the ideals and philosophy of a liberal free-market economy the focal point of his economic transformation agenda

“As a matter of fact, he announced an end to the age long petroleum subsidy regime in an unprecedented fashion, during his inaugural speech on 29th of May 2023, to herald the commencement of the end of state-controlled economic policies and protectionism in the Nigeria investment ecosystem.

“From our knowledge of the President’s enviable background as an experienced private sector player who majored in the oil and gas industry, we believe that he will not, for whatever reason, give personal guarantee or assurance to anybody or group, on a specific price of fuel in Nigeria, knowing fully well that in the absence of government subsidy, such prices are solely determined by the unpredictable dynamics of market forces.

“We therefore view the accusations against the President by Joe Ajaero as untrue and a ridiculous attempt to blackmail the President.

” It is all an attempt to divert public attention from a security investigation and an ongoing trial that directly links a foreigner accused of committing treasonable offences against the Nigerian stat to the NLC Secretariat in Abuja.

“The factors that necessitated the recent hike in PMS price by NNPCL are not opaque, as it has been comprehensively explained by the organization itself.

“We understandably note that the withdrawal of fuel subsidy by government, has compelled the NNPCL to respond to the dictates of market forces, in order to cope with the logistics of importing refined petroleum into the country.

” The increase in the pump price is to accommodate the landing cost of the product.”

The group, however, expects fuel price to crash with the expected infusion of locally refined fuel from Dangote Refinery into the Nigerian market

“We at TDF expect every responsible and patriotic organization in the country, NLC inclusive, to focus attention on the new oil sheriff in town, that is, Dangote and other private refineries in Nigeria with a view to ensuring that all the actions and incentives deployed by President Tinubu to encourage local refining succeed.

“This is the right path for the Joe Ajaero led NLC to follow, if truly they are sincere about reducing fuel price in the country.

“We want Nigerians to know that the down- stream petroleum sector is currently in transition mode from the era of imported fuel consumption to the utilisation of locally refined fuel.

“For us, the increase in fuel price is a true reflection of the market situation as obtained in the petroleum importation business.

But we have no doubt that with the far reaching measures put in place by President Tinubu to encourage local refining in Nigeria, the pump price of PMS will crash significantly, when the Dangote refinery begins to roll out its products into the market in next few hours.

“It is on this note that we see the threat by Mr. Ajaero to resist the increase in pump price of petroleum, as self-serving, sadistic and unpatriotic.

“We also condemn and vehemently reject the emotive use of the N70,000 national minimum wage to hoodwink the unsuspecting public to believe that he and his egocentric colleagues mean well for the nation,”it added