NUPENG, PENGASSAN fault IMF’s advice to FG on fuel subsidy

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The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG and the Petroleum and Natural Gas Senior Staff Association, PENGASSAN, has described IMF’s advice to Nigeria on fuel subsidy as poisonous. Recall that the IMF in a meeting with the World Bank on Thursday, advised the Federal Government to remove fuel subsidy which according to them is the right thing to do.

However NUPEN and PENGASSAN who described IMF’s advice to Nigeria as poisonous, said it led to hoarding of fuel. 

“The statement of IMF has created panic in the country with associated hoarding of petroleum products, panic buying, skyrocketed increases in prices of goods and services in the country. We read with serious concerns and worries the reported statement” on the state of Nigerian economy and “the unsolicited poisonous advice on further recovery of the nation’s economy.

It is quite bewildering and baffling that the IMF is not considering the pains and agonies Nigerians went through even to achieve the acknowledged gains of 2018, with almost two-thirds of the world’s hungriest people among Nigerians. One wonders why the IMF is still callously and wickedly advising the government to inflict more pains and harm on the people.This [IMF] statement is embellished and loaded with poisons, considering the antecedents of the IMF in our economic challenges and struggles over decades of our nationhood.

The various devaluations of our currency on the strength of advices of the same IMF have been a very big burden on our nation for several years now.The leadership of NUPENG and PENGASSAN are aware of what Nigerians are going through; we empathise with them and will not turn a blind eye to any further attempt to increase their pains and impoverish them further. We earnestly plead with President Muhammadu Buhari to constantly put in mind the current hardship Nigerians are going through in our collective journey to economic recovery. Be it known that any economic policy that is devoid of human feelings could lead to more social dislocations and upheavals,” they added.

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