The Nigerian Labour Congress, NLC, has demanded that the price of Premium Motor Spirit (petrol) be lowered further, stating that the recent decrease to N935 per litre is insufficient.
Recently, Dangote Petroleum Refinery and MRS announced that the price of gasoline would be reduced to N935 per litre.
Before the news, the product sold for more than N1,030 per litre in Lagos and the surrounding area, while in Abuja and the Northern regions, it cost more than N1,060 per litre.
In light of the most recent agreement with the Dangote Petroleum Refinery, the Independent Petroleum Marketers Association of Nigeria, IPMAN, said on Sunday that gasoline would be sold for N935 per litre starting on Monday.
Maigandi Garima, the national president of IPMAN, stated that the uniform arrangement and the decrease in the ex-depot price of fuel at the Dangote refinery will allow marketers to sell at N935 in their outlets across the country, with a N36 logistical cost.
The union workers, however, were not thrilled by the announcement because they demanded on Monday that the price of petrol be further reduced.
Chris Onyeka, a senior official in the Nigeria Labour Congress, told reporters that he did not think the Federal Government and the Nigerian National Petroleum Company Limited should be commended for the recent drop in the price of petrol at the pump.
He maintained that the current system of pricing did not accurately represent the commodity’s genuine cost.
“Are you okay with us clapping for them? How can a price of N935 per litre of PMS be acceptable to us? For PMS, this price is inappropriate. When we have the potential to refine in Nigeria, you cannot base the price on imported goods,” he stated.
According to him, Nigerians are unfairly burdened by the costs associated with the current pricing structure, which include foreign labour, freight charges, insurance, logistics, and profits earned outside.
The prices you charge Nigerians are based on imported goods, even if Nigerians refine their products. Why should that be praised? It would be like someone stealing your money, giving you back only a portion of it, and then expecting you to applaud. “This cannot be praised,” he said.
Onyeka emphasised that figuring out the true cost of domestic refinement is the only method to determine the correct price of PMS.
“We must ascertain the cost to the NNPC of refining one litre of PMS in our nearby refineries, including the Port Harcourt plant. He underlined that Nigerians should be paying that price.
He urged the government to make fuel prices reflect local conditions to put Nigerians’ welfare first.
“All Nigerians are entitled to this nation. Allow Nigerians to breathe by letting the government take the proper action. Allow the unfortunate to breathe. Fuel costs are a major contributor to inflation and economic hardship, and the NLC’s stance highlights the growing dissatisfaction of Nigerians over the rising cost of life,” he said.
