The Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), recently increased depot prices of petrol, directing marketers to sell the product to end users at between N167 to N170 per litre.
The NLC, in a statement issued by its National President, Ayuba Wabba said 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.
“The recent increase in the pump price of PMS is clearly against the spirit and content of what Organized Labour agreed with government at the last negotiations over the last fuel price increase.
“It has also cast in very bad light our utmost good faith with regards to government explanations that it lacks funds to continue bankrolling the so-called subsidy payments as such would sooner than later cripple the entire economy, throw the country into severe economic crisis and cause loss of jobs in millions,” he said.
Wabba said while the NLC awaited the full recovery of the nation’s refineries as contained in its agreement with government, Nigerians could not be made to bleed endlessly for the failures of successive government to properly manage our refineries, ensure value for money for the numerous Turn Around Maintenance (TAM) which were poorly and barely executed and the horrifying lack of interest in prosecuting public officials and private business people who have profited from the rot in the petroleum sector and the collective misery they have imposed on the general population.
“In line with our recent agreement with government, we will be receiving updates in the next few days from our unions in the petroleum sector which have been given the mandate to keep surveillance on government promise to overhaul our public refineries.
“We will also receive updates from our representatives in the electricity review committee. The updates we receive will determine whether the government has kept to its side of the bargain which is to take serious steps to recover and reposition our public refineries.
“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,” Wabba stated.