In a statement, Organised Labour said it would be receiving updates from its unions in the petroleum and electricity sectors before coming up with a final decision in the coming days.
“The outcome of this engagement will determine our response in the coming days. But while we are at that, we condemn the recent price increase, and we call for its reversal with immediate effect.”
NLC President, Comrade Ayuba Wabba, in a statement, yesterday, in Abuja, clarified that the fresh fuel price increase was not part of the agreement reached with the Federal Government in October.
“There is no doubt that there is great disquiet in the land over the extraordinary level of inflation in the country.
“The recent increase in the pump price of the Premium Motor Spirit (PMS) has only exacerbated the current level of pain and anguish in the country.
“We condemn the recent price increase and call for its reversal with immediate effect,” the NLC President said in a statement in Abuja.
However, there are indications that the Federal Government may have tacitly allowed the price of Premium Motor Spirit (popularly called petrol) to be determined by market forces.
Before now, the Petroleum Products Pricing Regulatory Agency (PPPRA) was in charge of announcing monthly price guide, which stakeholders in the sector as well as transportation sub-sector, use in determining the price of services.
But in the prevailing setting, the Petroleum Product Marketing Company (PPMC) which is just a marketer like others, is in charge of price announcement.
This has resulted in arbitrary pricing, as there is no longer clear-cut agency that monitors compliance in the sector.
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