NLC Rejects New Pump Price of Petrol, Gives Fresh Directive

NLC Rejects New Pump Price of Petrol, Gives Fresh Directive

  • The NNPCL earlier confirmed the full deregulation of the downstream sector of the Nigerian Petroleum Industry with petrol now selling at market price following the removal of subsidy by President Bola Tinubu
  • NNPC, in a statement by its chief corporate communications officer, Garba Deen Muhammad on Wednesday, said pump price at its retail stations have been adjusted
  • Reacting, NLC President, Comrade Joe Ajaero, rejected the proposed fuel price increase while noting the "fixing of price is not what government could do unilaterally"

The new pump price of petrol fixed by the Nigerian National Petroleum Corporation Limited (NNPCL) has been rejected by the Nigeria Labour Congress (NLC).

As reported by Daily Trust, the oil firm earlier directed its outlets nationwide to sell fuel between N480 and N570 per litre.

Nigeria Labour Congress HQ, Mele Kyari, fuel scarcity, NNPC
NLC President Joe Ajaero rejects the pump price of petrol proposed by NNPC Limited. Photo credit: Nigeria Labour Congress HQ, NNPC Limited
Source: Facebook

NLC reject the fuel price increase

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Garba Deen Muhammad, Chief Corporate Communications Officer, NNPC Ltd, had said the price adjustment was made in line with “market realities”.

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Reacting to the development, NLC President, Comrade Joe Ajaero, who briefed journalists at Labour House, Abuja, on Wednesday, May 31st, said the congress would not accept that.

Ajaero noted that the fixing of price is not what government could do unilaterally.

The NLC argued that the decision to announce a new pump price regime was against the interest of social dialogue, The Nation report added.

"I pity Tinubu": NLC president speaks on disputes president-elect will inherit earlier reported that the president of the NLC, Joe Ajaero, has pitied the president-elect, Bola Tinubu, over the number of industrial disputes he will inherit from Monday.

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Ajaero said the Buhari administration tried to maintain industrial harmony, which was not enough to solve many industrial disputes it was leaving behind.

The NLC president noted that agreement was made with the doctors but not implemented and that the issues with ASUU were not resolved.

Bola Tinubu breaks 24-year record of Obasanjo, Yar-Adua, Jonathan, and Buhari in 24 hours

In another report, President Bola Ahmed Tinubu surpassed the stock market performance of his predecessors within the first 24 hours of his inauguration.

Following Tinubu's inauguration, the Nigerian stock market opened the week on a bullish note as investors displayed confidence in his administration.

President Tinubu addressed key economic concerns in his inaugural speech, emphasising the need to capture fuel subsidy in the 2023 budget and pledging to work towards a unified exchange rate to bolster the Nigerian economy.


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