The Nigeria Labour Congress, NLC, on Thursday, told the Federal Government to reverse with immediate effect, the new pump price of Premium Motor Spirit, PMS, otherwise known as petrol to its former price.
The Federal Government through the Petroleum Products Price Regulatory Agency, PPPRA, had on Wednesday announced a new price regime for the PMS from N123.50 to N143.80 with effect from July 1.
Reacting to the new price, the Nigeria Labour Congress, NLC, said it received the news of the increment with shocks and consternation.
The NLC in a statement signed by its President, Comrade Ayuba Wabba, said that the new hike in the pump price of PMS was announced without the approval of the board of the PPPRA and the oversight ministry, the Ministry of Petroleum Resources.
The NLC described as embarrassing the alleged arbitrariness and public contempt in the operations of PPPRA, describing its action as ‘deeply disturbing.’
Labour in the statement said, “We demand that the Federal Government reverts to the old price of petroleum especially given the fact that price of crude oil in the international market has only slightly increased from the previous price before the so-called downward review was announced two months ago. Vanguard