The Nigeria Labour Congress on Sunday cautioned President Muhammadu Buhari against oil subsidy removal and further devaluation of the nation’s currency being canvassed in some quarters.

Specifically, it said organised labour would resist any attempt to further devalue the naira.

The Deputy National President of the NLC, Alhaji Issa Aremu, in a statement in Kaduna on Sunday, noted that “what the country needs now is good governance, not subsidy removal as being canvassed in some quarters.”

He said President Buhari should go beyond subsidy removal by fixing the existing refineries in Port Harcourt, Warri and Kaduna.

According to the labour leader, the National Assembly should hasten the passage of the Petroleum Industry Bill.

He also said NLC was of the opinion that the re-organisation of the Nigerian National Petroleum Corporation, stoppage of crude oil theft and creation of employment would help the nation than removal of oil subsidy.

Aremu said, “As we have seen with the good management of fertilizer subsidy in the last dispensation under former Agriculture Minister, Dr. Adesina Akinwunmi, there is nothing inherently bad with subsidy.

“The challenge of today more than ever before is domestic production of petroleum instead of unsustainable wasteful importation of the products.

“The new administration should reject the one-cap-fits-all policy dictate. No substitute to good governance and employment generation.

“The actions that Nigerians are looking forward to are urgent fixing of the existing refineries, passage of PIB, job creation and re-organisation and repositioning of the NNPC.”

Aremu described the proposed removal of oil subsidy and the devaluation of the naira as “policy dictatorship.”

He added, “This administration must resist the new emerging discordant voices pushing for twin-evil policies of so-called oil subsidy removal and further devaluation of the naira.”