Nigeria Labour Congress (NLC) has countered President Bola Tinubu over the claim that N1 trillion has been saved since his government stopped payment of fuel subsidy.

In a nationwide broadcast on Monday, the president had said a total of N1 trillion had been saved since subsidy payment was stopped.

“In a little over two months, we have saved over a trillion Naira that would have been squandered on the unproductive fuel subsidy which only benefitted smugglers and fraudsters. That money will now be used more directly and more beneficially for you and your families,” he had said.

But speaking during the ongoing nationwide protest of labour, Joe Ajaero, NLC President, said the committee that the Federal Government set up to negotiate with the unions disclosed that not a single kobo had been saved since subsidy was removed.

Ajaero spoke when he. alongside Festus Osifo of the Trade Union Congress (TUC), led protesters to the national assembly complex on Wednesday.

“Mr President talked about N1trillion saved. The committee where we meet, they told us that no one kobo has been saved so far. Therefore, we have not agreed on what to pay anywhere,” he said.

During his inaugural speech on May 29, President Tinubu had announced removal of fuel subsidy, leading to increase in the price of petrol from N195 to N540 per litre.

Later in July, the price was increased to N617 per litre.

Nigerians have been lamenting the effect of subsidy removal on their lives, but the Tinubu administration has repeatedly promised relief.

Daily Trust