Labour Seeks Reduction In Petrol Price

The organised labour in
Nigeria has officially reacted to the federal government’s reduction in the pump price of Premium Motor Spirit (PMS) from N97 per litre to N87 per litre.
The labour movement nevertheless commended the federal government for such bold step but stressed that the reduction in the pump price is not sufficient enough for Nigerians.
The two labour movements; the Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) had in separate statements said the decrease is not commensurate with the fall in the price of oil in the international market.
The NLC on its part in a statement titled “Break this Stranglehold” signed by its general secretary, Comrade Peter Ozo-Eson, released on the congress’ website added that the government through the devaluation of the naira  prior to the reduction in the pump price had denied Nigerians the benefit of such reduction.
The statement read, “The N10 price slash translates to 10.3 per cent reduction compared to 33% price reduction in most countries. For instance, in the United States the price dipped to under two dollars from three dollars per gallon.”
The NLC recalled that it had earlier urged the government to effect a price reduction following a sustained price slump of crude oil in the international market in order for Nigerians to benefit from the development.
The congress’ statement noted that the logic of its reasoning is hinged on the premise that only the Petroleum Pricing Products Regulatory Agency (PPPRA) is charged with the statutory responsibility of determining petroleum product prices based on relatively acceptable template.
The NLC said it is the PPPRA on whose board the organised labour have their representatives, stressing that the PPPRA Board has been sidelined for so long.
NLC said that beyond the issue of price reduction of PMS, the regulatory agencies in the downstream sector of the oil industry need to protect Nigerians against monopolistic exploitation.
The congress called on the regulatory agencies to break this stranglehold on consumers in Nigeria.
The Trade Union Congress TUC in its statement by its president, Comrade Bobboi Kaigama said all moves unreservedly show the government’s insensitivity to the plight of millions of impecunious Nigerians.
Kaigama said the N10 reduction certainly has less than significant effect on costs of transportation of goods and services.
The TUC said the new N87 per litre price is sure to still destabilise and boreholes in the ever shrinking pockets of the Nigerian masses.
The union said Nigerians deserve an even greater slash in the price of fuel, stressing that all appropriate measures must be taken to strengthen the purchasing power of the common man.

Philip Okparaji