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| NLC tells FG to revert ₦86 per litre |
The Nigeria Labour
Congress (NLC) has advised the federal government to revert the pump price of
petrol to what it was or be ready for a showdown.
News
Agency of Nigeria report continues:
Peter
Ozo-Eson, secretary-general of the union, said the increase is the “most cruel
in history”, vowing that labour would do all within its powers to resist it.
Ozo-Eson
said at a meeting that the organization held with the government earlier in the
day, labour advised that the idea be shelved “until, at least, it meets with
the appropriate organs of the congress”.
“We
urge the government to revert the prices to what they were. We would want to
put everybody on notice that we shall resist this criminal increase with every
means legitimate,” he said in a statement.
“The
unilateral increase in prices of petroleum products today by government
represents the height of insensitivity and impunity and shall be resisted by
the NLC and its civil society allies.
“The
unjustifiable electricity tariff and other economic challenges brought on by
the devaluation of the naira and inflation, the least one had expected was
another policy measure that would make life miserable for the ordinary
Nigerian.
“The
latest increase is the most audacious and cruel in the history of product price
increase as it represents not only about 80 per cent increase but it is tied to
the black market exchange rate.
“Furthermore,
the process through which government arrived at this is both illogical and
illegal as the board of the PPPRA is not duly constituted.”
The
statement said NLC through its previous statements and communiqués had said the
need for the reconstitution of the boards of NNPC and PPPRA.
Ozo-Eson
accused Ibe Kachikwu, minister of state for petroleum resources, of having
overbearing influence and acting as a sole administrator.
He said the next line of action would be determined at an emergency meeting which had been fixed for Friday.
IPMAN Commends FG On
New Price Of Petrol
News
Agency of Nigeria reports that Alhaji Abubakar Maigandi, the Vice President,
Independent Marketers Association of Nigeria (IPMAN), has commended the Federal
Government on the new pump price of petrol.
Maigandi
told the News Agency of Nigeria (NAN) on Wednesday in Abuja that the decision
would help to put to an end the persistent petrol scarcity in the country.
“This
is a good development; the best that will happen is complete removal of the
subsidy.
“The
price they put is a good one, but the best thing is to leave the market open so
that people will decide what they want to sell after importation,” he said.
He
assured that the products would be available with this development, adding that
the association was ready to continue to support government’s effort.
NAN
reports that the Petroleum products Pricing Regulatory Agency (PPPRA) has
announced a new pump price of ₦145 per litre for petrol.
A
statement signed by Mrs Sotonye Iyoyo, the Acting Executive Secretary of PPPRA,
said that the new price would take immediate effect
“In
furtherance of its mandate to ensure the efficient supply and distribution of
petroleum products, PPPRA hereby announces, effective immediately, that the new
price band for PMS shall be at a maximum of ₦145 per litre.
“However,
NNPC retail stations on the outskirts of major cities are advised to sell at
price lower than ₦145 per litre,” it said.
The
statement said that the review became imperative in the face of extreme
difficulties faced by petroleum product Importers in sourcing foreign exchange.
This,
it added, had made it difficult to meet the consumption demand of the nation.
“Importers
will henceforth be permitted to source for their foreign exchange requirements
from the secondary sources.
“PPPRA
is conscious of the difficulties that Nigerians have been going through in the
last few months.
“To ameliorate this situation, we shall continue to modulate pricing in accordance with prevailing market dynamics thereby ensuring fair value to all citizens,” it said.
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