Nigerian Workers To Resist Fuel Price Hike

New petrol price

The Nigerian Labour Congress, NLC, has threatened to mobilize workers and civil society groups to resist the increase in the pump price of Premium Motor Spirit, PMS, popular called petrol, announced on Wednesday by Minister of State for Petroleum, Ibe Kachikwu.

Kachikwu announced after a stakeholders’ meeting at the office of Vice President Yemi Osinbajo on Wednesday that petrol would now have a price cap of N145 per litre instead of the N87 cap fixed by the Goodluck Jonathan administration in 2012.

Justifying the increase, Kachikwu said the policy would lead to improved supply and competition that would eventually drive down pump prices of the product. The policy allows any Nigerian entity that can source forex from secondary sources to import fuel into the country, thus easing pressure on the country’s foreign exchange.

However, in a statement issued by Peter Ozo-Eson, General Secretary, the NLC described the increase as “unilateral’ and “insensitive” to the plight of the masses, adding that it “the height of insensitivity and impunity” which shall be resisted by the NLC and its civil society allies”.






     

     

    NLC said the increase was coming after an unjustifiable increase in electricity tariff and in spite of the economic challenges brought on by the devaluation of the naira and inflation, stressing that the last thing that workers expected from the government was a policy measure “that would make life miserable for the ordinary Nigerian.”

    The labour union described the latest price increase as “most audacious and cruel in the history of product price increase” as it represents not only about 80 per cent increase but is also tied to the black market exchange rate.

    The union also noted that since the PPPRA board was not duly constituted yet, making it illegal for the agency to announce the new price regime.

    Labour has scheduled a meeting for tomorrow Friday to decide its next course of action.

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