The President of the Nigeria Labour Congress, (NLC), Joe Ajaero, on Tuesday said the union would disown the 2023 presidential candidate of the Labour Party, Peter Obi or any other emerging candidate who will adopt the policies of the International Monetary Fund (IMF) and the World Bank when elected president.
The IMF had accused the federal government of secretly reintroducing the fuel subsidy earlier removed by President Bola Tinubu, while also calling for the removal of electricity subsidy.
The international financial bodies in a report titled ‘Nigeria: 2024 Article IV Consultation’ said, “The authorities have recently approved an enhanced social transfer mechanism developed with World Bank support, and some initial payments have been made.
“In response to governance concerns, the authorities automated and digitalized the system to build a robust mechanism that delivers swift and targeted support to vulnerable households—some 15 million households or 60 million Nigerians potentially benefit from the scheme.
“Once the safety net has been scaled up and inflation subsides, the government should tackle implicit fuel and electricity subsidies.”
According to the IMF, the subsidies are costly and poorly targeted, with higher-income groups benefiting more than the vulnerable.
However, the NLC president in an interview with Channels Television monitored by THE WHISTLER described the removal of fuel and electricity subsidies as ‘fixated.’
Ajaero warned that the labour union would have it tough with any Labour Party president who implements the policies of the IMF.
He said, “He (Obi) is the presidential candidate of the Labour Party, but does he own the NLC or the Labour Party? Why can’t you separate them?
“Whoever is the presidential candidate or official of the Labour Party must buy into our projects. If he says he is going to undertake those policies, let him be elected and try such policies.
“Whether a presidential candidate of a party that Labour forms would dictate for Labour? The answer is known to everybody. The policies of Labour, the ideologies of Labour are clear and we are going to pursue it.”