NLC Demands Reversal Of New Pump Price Of Fuel

The Nigeria Labour Congress, NLC, on Thursday, says it is rejecting the increase in the pump price of Premium Motor Spirit commonly called ‘petrol’ from N121 to N143.80 announced by the Petroleum Products Price Regulatory Agency, PPPRA.

While demanding an immediate reversal of the price, Labour argued that the new price in this COVID-19 pandemic was only going to worsen the poverty level across the country and kill businesses.

According to a statement by the NLC President, Ayuba Wabba, its accused the government of not being insensitivity towards its citizen for increasing the pump price of fuel at a time Nigerians and businesses were struggling to cope with the negative consequences of COVID-19 pandemic.

Ekohotblog reported on Wednesday, July 1 2020 that the Federal Government through the Petroleum Products Pricing Regulatory Agency announced a new retail price for oil marketers to sell petrol within the price range of N140.80 and N143.80 for the month of July amid COVID19 in Nigeria.

The statement argued that  “PPPRA contradicted itself when it said that the latest price increase described as an “advisory” was meant to regulate a product that government claims had been de-regulated.

Read also: BREAKING: FG Increases Fuel Price Amid COVID-19 In Nigeria

“That this new hike in the pump price of petrol was announced without the approval of the board of the PPPRA and the oversight ministry speaks volume of the arbitrariness and public contempt in the operations of PPPRA. We find this deeply disturbing.

“It is also very embarrassing that the PPPRA boss, while trying to defend the indefensible, appeared to be out of sorts and ready to clutch at any available straws to sell his ice block merchandise to Eskimos.

“Apart from contradicting himself that PPPRA is still trying to regulate a deregulated product through ‘advisories’, the PPPRA went on to exert more nails on the coffin of his polemics when he argued that PPPRA was just like the Central Bank of Nigeria, CBN, and the National Insurance Commission, NAICOM, that would always act to protect the public interest.

“That was how far the niceties went. The rest of the statement by the PPPRA boss was about how PPPRA plans to protect investors and increase their profit.”