Abuja - The Nigeria Labour Congress has said Nigerians will not be able to take another fuel price increase in view of the harsh economic situation in the country, Punch reports.
The General Secretary of the NLC, Peter Ozo-Eson, said on Sunday that the government should review its policy on subsidy that led to the increase in the fuel pump price from N97 to N145 per litre last year.
It was gathered that the Federal Government had started paying subsidy on fuel as a result of the increase in the landing cost and total cost of fuel from N122.03 and N140.40 per litre respectively to N145.
Ozo-Eson was reacting to reports that the landing cost of petroleum had increased from N140.40 to N145, the same amount with the current fuel pump price in the country.
He stated, “I do not think that at this time, and given all that we have seen, that Nigerians can be subjected to another round of price increase now. That is why government needs to revisit and rethink its policy. Nigerians cannot take another round of price increase.”
He recalled that the NLC had said during the last fuel increase that the policy was bad and not ripe in an import-dependent regime as it was bound to further weaken the naira.
He added that the government ought to be sure of domestic refining capacity before embarking on the removal of subsidy, which resulted in the fuel price increase to N145 per litre.
He explained that the actual landing cost would be determined by the Petroleum Products Pricing Regulatory Agency, which, according him, is still working on the price template.
When asked what the NLC would do if the fuel price is increased again, he said, “That is not for me to say. It is not an individual who makes such pronouncements. Whatever develops, we may also engage it and decisions would be taken and communicated to Nigerians.”
Also, the President of Trade Union Congress, Bala Kaigama, said the labour unions were members of the board of the PPPRA and were not aware of the planned increase.
The Nigerian National Petroleum Corporation, NNPC, on Tuesday denied
any plan to further hike the price of Premium Motor Spirit, PMS, also
known as petrol according to News24
General Manager, Group Public Affairs Division of the NNPC, Muhammad
Garba-Deen, said this while addressing newsmen in Abuja.