House Insists on Policy Reversal
As the nationwide industrial action entered its third yesterday, the House of Representatives reiterated its call on the Federal Government to reverse its decision on fuel subsidy removal as the increase in the pump price of petrol and the resultant strike action was taking a huge toll on the economy.
Chairman, House Committee on Labour, Hon. Essien Ekpenyong Ayi, who made the position of the House known, said the reversal had become important because Nigeria was losing an estimated of N158.9 billion daily as a result of the ongoing strike.
Ayi said if the policy was not reversed and labour does not end the strike, even the financial gains which government expected from the removal of fuel subsidy would be lost.
“I am made to understand that Nigeria loses as much as N158.9 billion daily from the ongoing strike.What is to accrue to the Federal Government as her own share from deregulation for 2012 is about N500 bn out of the total proceeds of N1.3 trillion. So if the strike is sustained for about five days, the government shall lose more than the expected income and it shall therefore become a wasted venture.
“I hereby use this medium to appeal to government and labour to soften their stands and save this country from anarchy. Government should abide by the decision of the House asking for suspension of her decision and reverse to original pump price while negotiations continue with labour to arrive at a decision acceptable to both parties,” Ayi said.
The lawmaker further appealed to government to consider the options presented by labour as pre-conditions to the deregulation of the downstream sector of the oil industry and implement the necessary programmes before scrapping the subsidy on petrol.
Meanwhile, the House has passed a bill seeking to amend the law establishing the Standards Organisation of Nigeria (SON) to make the organisation more effectiive in the discharge of its responsibilities.
The bill seeks to amend the SON Act, Cap S.9 Laws of the Federation of Nigeria, 2004 for the purpose of providing additional functions for the organisation, increase penalty for violations, protect intellectual property rights and other related matters.
The bill was being consolidated with another bill seeking a total overhaul of the existing law.
Also Wednesday, the House passed through the second reading a bill seeking to establish a Skills Acquisition and Development Trust Fund to train young Nigerians on various vocations to reduce the level of unemployment in Nigeria.
