The Nigeria Labour Congress (NLC) has condemned the increase in the price of Premium Motor Spirit (PMS) by the Nigerian National Petroleum Company Limited (NNPC Ltd).
NLC President, Comrade Joe Ajero stated this in a statement issued on Wednesday.
The statement reads; “We are dismayed by the latest increase in the pump price of petrol.
“It looks like the only thing this government is known for is increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.
“Even following the logic of market forces , we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly.
“We challenge the government to go to the drawing board and present us with a blueprint for an inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy.
“It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities.
“It will further deepen poverty as production capacities dip, more jobs lost with multidimensional negative effects.
“In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good result. People only got poorer.
“But more fundamentally, the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”
The Nigerian National Petroleum Company Limited (NNPC Ltd) on Wednesday increased the price of Premium Motor Spirit (PMS), otherwise known as Petrol of fuel from N855 to N998 per litre.
It was gathered that the increment has been initiated across all NNPC Ltd filling stations.
The new development is a 12.7% or N113 increase from the initial price.
