NLC President, Mr Ayuba Wabba, has rebuffed the increase in the price of petrol from N148.50 per litre to N162, saying it is “like adding insult to injury”.
“It is like Nigerians are being taken for a ride. The increase in price of petroleum has happened now more than three times in three months, only yesterday they hiked the tariff of electricity,” he said.
Mr. Wabba said that to amplify the issue, the CBN also reduced the interest rate of savings which affects mostly the poor and the vulnerable.
“The organised labour therefore rejects the increase in price of the product in the strongest terms.”
According to the NLC President, at the end of the day, Nigerians are becoming poorer and poorer, in fact ”many people are already on the edge. Many workers are already on the edge.”
“Certainly, we cannot guarantee industrial peace and harmony, and we will have to call our organs and we will have to also react but we reject it in its entirety.
“They have betrayed the trust of Nigerians, for Nigerians to be protected against the economic challenge that is affecting us,” he said,
The Pipelines and Product Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, (NNPC) in a statement announced the new price adjustment effective from Sept. 2.
The PPMC increased the ex-depot price from N138 to N152. This serves as basis for an increase in the retail price by marketers.
The Independent Petroleum Marketers Association Of Nigeria (IPMAN), has told its members to sell the fuel at N162.
The last price increase was on Aug. 5, when the price moved from N143.50 to N148.50 per litre..
Some filling stations already started selling petrol for N161 per litre on Wednesday.