Home News Fuel Price Hike: FG requests for one week break to consult

Fuel Price Hike: FG requests for one week break to consult


The Federal Government has requested for a week break from discussion with NLC and TUC to consult on the new petrol price increase.

Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mele Kyari made the request at Thursday’s meeting with the leadership of organised labour at the Banquet Hall of the Presidential Villa, Abuja.

Acccording to The Nation, Kyari told the meeting that the cooperation couldn’t unilaterally announce a reversal of the new price without consultation.

It was agreed by both the labour and government team led by the Secretary to the Government of the Federation, SGF, Boss Mustapha that the meeting should be adjourned and should resume on December 7

Labour has asked the government to reverse the recent fuel price increase, saying the increase negates the agreement reached in September.

Petrol price has increased by about four times in 2020. It had risen from N121.50–N123.50 per litre in June and N140.80-N143.80 in July and N148-N150 in August.

The product presently sells between N165 and N168 per litre after the Petroleum Products Marketing Company, a subsidiary of the Federal Government-owned NNPC, increased the ex-depot price of petrol from N147.67 per litre to N155.17 per litre for this month.

Minister of Labour and Employment, Chris Ngige at the end of the meeting which lasted for more than three hours, told reporters that the federal government team will relay the position of labour to President Muhammadu Buhari who is the Minister of Petroleum and also to the Economic Management team because funds are involved.

Ngige said: “By Monday, December 7, we will come back, because the message from the organised labour is clear. They want a reversal of the pump price to what it was. So, the government side will take it back to our principals.

“Even though government is not fixing the price of premium motor spirit (PMS) anymore because it is deregulated, it is part of the economy. So, the government side will consult anybody that needs to be consulted.

“We will consult the President as the Minister of Petroleum and then, the Economic Management team because funds are involved.”

Deputy President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, said that it was believed that when the parties will resume negotiation on December 7, the reversal must have been effected