BUSINESS NEWS

FG, Organised Labour give NNPC One Week to Review Fuel Price

NEWSMAN, Abuja – Federal Government and Organised Labour have resolved to give the Nigerian National Petroleum Corporation (NNPC) one week within which to consider a reversal of the pump price of petrol.

The price of the Premium Motor Spirit popularly known as petrol was raised from N161 per litre to N168 per litre, the second time in less than three months.

However, the organise labour is kicking against the price hike which it considered unwarranted and a big slap on Labour, coming mid-way into their negotiations with government on how to cushion the economic difficulties brought by the earlier increase.

Labour leaders who felt ambushed by the federal government’s action staged a walkout at a meeting with government last Sunday, insisting on the reversal of the fuel price increase before talks could continue.

At the rescheduled meeting with representatives of labour on Thursday night, government and labour leaders at the meeting agreed to give NNPC one week to reconsider issues that led to the increase, This Day reported.

A source at the closed-door meeting said that Labour insisted that the fuel price hike must be reversed to what it was as at September 28.

“After efforts to see if discussions on other issues can go on failed, the Group Managing Director of the NNPC also tried to make presentations but was rebuffed by labour.

The meeting then resolved that the NNPC GMD be allowed to go back to his principals to consult and come back to brief the meeting after one week,” he said.

The meeting adjourned till December 7.

The government has continued to engage the labour unions in discussions since October when the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) threatened to embark on a nationwide protest over the increased prices.

On their part, the NLC and TUC have consistently maintained that the government should reverse the prices and provide palliatives to cushion the immediate effects of the hike before it engages them in a dialogue.

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