Nigeria Labour Congress rejects increase in the price of petrol
The increase, according to reports, is consequent upon a “monthly review meeting” by the Petroleum Products Price Regulatory Agency, PPPRA.
The NLC President, Comrade Ayuba Wabba, described the statement as 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”. It added that the new pricing regime would encourage oil marketers to resume the supply of petrol, leading to further value creation in the downstream, foster job creation and ensure reasonable returns to investors.
The statement observed, “Nigerians would recall that the last downward review in the price of petrol was at the beginning of the COVID-19 lockdown. The economic benefits of the so-called “downward” review was hardly enjoyed by ordinary Nigerians who were mostly indoors. Just as the lockdown is being eased out and as soon as the inter-state travel ban was lifted, the government decided to hike the petrol price.
”The extra costs that the PPPRA wants Nigerians to pay in order to promote “growth” and “investment”, according to the statement are actually the cost of profits made by countries that we ship our crude oil to, the cost of sea freight of the refined products, the cost of demurrage at our seaports when the refined products arrive, the cost of the frequent devaluation of our national currency, and the cost of official corruption by gatekeepers managing the downstream petroleum sub-sector.
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