Global Courant
President Tinubu meets with Organised Labour and other government officials [Presidency]
Organised labour yesterday suspended their planned protest following President’s Tinubu promise to fix national refineries. Labour will now return to the negotiating table with the federal government to discuss palliative measures for Nigerians following the removal of the fuel subsidy.
Tinubu met with labour yesterday and gave his commitment that refineries will start production by December. In a statement released by the president’s office last night, labour agreed to stop further protests following fruitful discussions with the president. Nonetheless, there were sporadic protests in several cities across the country, including in the capital of Abuja, where workers protested the harsh economic situation brought about by the removal of the fuel subsidy. Protests in some states reportedly paralysed commercial activities.
Recent Price Watch reports from the National Bureau of Statistics showed that average kerosene prices had risen by 62% y/y in June, while average diesel and petrol prices had risen by 11% and 210%, respectively. Food inflation stood at 25.3% y/y in June.
Separately, the president yesterday called on the United Kingdom government to deepen its partnership with Nigeria and Africa by investing more across sectors. Tinubu made the call while meeting UK’s Foreign Secretary James Cleverly in Abuja.
President Tinubu asked for assistance in helping Nigeria to mobilise investment for pipe gas from Nigeria to Europe. He acknowledged the West African region’s security issues, noting that it would remain a challenge as long as there are unstable governments in the region. More specifically, the president decried the security situation in Niger, the Sahel and the Horn of Africa (the president’s comments came on the same day as a meeting between ECOWAS defence chiefs to discuss the coup in Niger). The president therefore called for a ‘dynamic partnership on security and economic development’ in an effort to drive out militants from the region.
Organised labour in Nigeria called off their strike yesterday after
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