“We have also demanded that we must stop 100 per cent importation of refined petroleum products.
“The NLC and indeed the labour movement in Nigeria had over many decades been vehemently consistent that the only way to address the issue of the so-called petrol subsidies is to get our refineries to work. “The logic is very simple: it is not economical to buy from abroad at very expensive prices a product that a country like ours can easily produce at home,’’he said.
Wabba added that, at the heart of their demand on the management of Nigeria’s mineral resources, especially the downstream petroleum sub-sector was the issue of Production Economy. He said that the congress believed that the rescue of Nigeria from the current path of Consumption Economy to Production Economy was the only way to resolve Nigeria’s economic nightmares of massive depletion of scarce foreign exchange reserve.Wabba said this would resolve the continuous devaluation of the Naira; significant jobs reduction, poverty and downturn in the living standards of the people.
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