The Nigeria Labour Congress (NLC) has again condemned the increase of pump price of fuel.
In a statement, the NLC President on Monday, Ayuba Wabba, rejects the increase, calling for its immediate reversal.
The statement explains that, the recent increase in the pump price of the fuel, only worsens pain and anguish being experienced by Nigerians.
The union further says, the fuel price hike “…has also cast in very bad light our utmost good faith with regards to government explanations that it lacks funds to continue bankrolling the so-called subsidy payments as such would sooner than later cripple the entire economy, throw the country into severe economic crisis and cause loss of jobs in millions.”
The statement therefore suggests, as the way forward, review of the entire process of licensing for modular and bigger refineries, describing as queer, depending on the enterprise of one man to fix Nigeria’s downstream petroleum subsector.
It then warns the authorities, by saying “There is a limit to what the citizens can tolerate if this abysmal increases in the price of refined petroleum products and other essential goods and services continue.”
The union is silent about what would be its next line of action, should the government fail to effect the suggested reversal of the new fuel pump price.
It will be recalled that, the federal government had announced a new regime of pump price for its petroleum products, raising the ex-depot price of petrol to N155.17, shooting up the pump price to the N165 and N173 per litre price range.