FG, Labour Fail To Agree On New Pump Price Regime For Petrol

Both the Federal Government and organized labour have failed to agree on the removal of subsidy on the Premium Motor Spirit, popularly known as petrol and subsequent released of the new template for the pump price of the product which ranges between N488 and 557 per litre from the initial price of N197 by the Nigeria National Petroleum Company  Limited 

The stakeholders meeting which  began around 4 pm on Wednesday at the Presidential Villa, Abuja, ended in deadlock 

At the meeting the Federal Government representatives included Dele Alake, the spokesperson for President Bola Tinubu; and the Group CEO of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari.

Other government officials present were the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele; and former Edo State Governor Adams Oshiomhole.

The Organised Labour was represented by the NLC National President, Joe Ajaero; and the President of the Trade Union Congress of Nigeria (TUC), Festus Osifo.

After several hours of meeting with the Federal Government, the NLC demanded that the Federal Government return to the status quo by reversing the price of fuel before resuming negotiations with the NLC.

The National President of the Nigeria Labour Congress, Joe Ajaero, who criticised the removal of subsidy insisted on the return to the status quo before any formal engagement with the NLC to protect the Nigerian workforce and proffer additional solutions.

The NLC said that the Federal Government did not enter into any conversation even on palliative measures for Nigerians, hence the rejection of the latest announcement 

The union said it had decided to reconvene with its members to determine the next line of action.

Spokesman for the president reacting to the outcome of the meeting, described it as robust, adding that talks would continue. 

He expressed hope that the parties would reach a reasonable conclusion at its next adjourned meeting.

President Bola Ahmed Tinubu had on Monday during his inaugural speech at the Eagle Square in Abuja,  said the era of subsidy payment on fuel has gone, saying there is no subsequent provision made for it in  the 2023 budget 

Tinubu added that his government would instead channel funds into infrastructure and other areas to strengthen the economy 

The Nigerian National Petroleum Company Limited (NNPCL) and the House Of Representatives have since backed Tinubu’s decision.

However, the Trade Union Congress of Nigeria (TUC) argued the President could not unilaterally take a decision on subsidy removal, saying there was a reason the immediate past administration of Muhammadu Buhari pushed the “sensitive issue” to the new government.

Fuel queues have since resurfaced across the country since the presidential pronouncement as Nigerians forage for the premium pproduct 

Ajaero, on Tuesday, kicked against Tinubu’s announcement confirming the removal of fuel subsidy.

The NLC president described the development as not well planned, saying Nigerians feel betrayed by the move.

According to him, President Tinubu's inaugural speech had  brought tears and sorrow to millions of Nigerians instead of hope. 

 Ajaero added that the pronouncement on removal of fuel subsidy equally devalued the quality of their lives by over 300 per cent and counting,”