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NIGERIANS PROMISE TO WAR AGAINST FUEL HIKE

NIGERIANS PROMISE TO WAR AGAINST FUEL HIKE

NIGERIANS PROMISE TO WAR AGAINST FUEL HIKE

BY OMOKHUALE PUAH

The Nigeria Labour Congress, together with the Trade Union, Afenifere, former federal lawmakers, security experts and right activist have said they would never accept any more attempt by the president Muhammadu Buhari’s government to hike the price of fuel.

This was stated during an interview section on Saturday, with SUNDAY PUNCH after a one day meeting with the Minister of State for Petroleum resources, Dr. Ibe Kachikwu, in Abuja.

The former and present bosses of the Nigerian National Petroleum Corporation (NNPC) feared that the current fuel price of N145 per litre was no longer possible, because the amount does not correspond with the determining component of the commodity and the fluctuation of the foreign exchange rate.

In the words of the NNPC, “we noted that the price of petrol at N145 per litre does not correspond with the liberalization policy, especially with the foreign exchange rate and the other determinants of price such as; crude cost, Nigerian Ports Authority charges, and others which remain uncapped.

Following the reports by SUNDAY PUNCH on August 7, 2016, in which oil marketers revealed that the actual cost of petrol was N151.87 when all its pricing agents are captured.

According to the Marketers, they have struggled so hard to maintain the petrol price at the price of N145 per litre because of the stiff competition in the downstream oil sector, but the practice never lasted.

The Group Managing Directors (GMDs) applauded the NNPC and commended them for resolving the fuel supply, urging them to practice sustainable measures to a seamless supply of petroleum products nationwide.

The NNPC also stated that the GMDs showed a great concern in the decline of crude oil production level and its consequences on the environmental and nation’s revenue.

The President of the Trade Union Congress, Bala Kaigama, has warned government, saying “stop taking Nigerians for granted, because this Buhari’s regime has highly extorted Nigerians”.

He promised, saying “things would return for the better this time, because we are ready to fight this modern day slavery”.

According to the National Publicity Secretary of Afinefere, Yinka Odumakin, “the masses fight against the hike. If you can’t provide an enabling environment for people to improve themselves and you collect tax from them, you risk the rage of the poor” he said.

 

The record given by the NNPC, stated some dignitaries present, which includes, the Minister of State for Petroleum/Immediate past GMD, Dr. Ibe Kachikwu, represented by his Senior Technical Assistant, Johnson Awoyomi; HRM(Dr.) Edmung Daukoru, Chief Odoliyi Lolomar, Dr. Thomas M.A John in the host of others present.

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