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Implications of petrol hike will be grievous Labour warns FG

Following insinuations from the Federal Government that the price of petrol would at some point be increased, organised labour has warned that if carried out, the implications would be grievous in terms of stability and insecurity.
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, had told State House correspondents that Nigerians would at some point have to bear the real cost of petrol, as government could no longer bear the cost of N120 billion spent monthly as subsidy.
But reacting to Kyari’s comments, President of the NLC, Comrade Ayuba Wabba, cautioned the Federal Government to rethink a likely increase in petrol pump price, as majority of Nigerians already living below the poverty line may be forced to resort to activities inimical to the security of lives and properties.
Wabba, who insisted that the citizenry should not be made to bear the inefficiency of government in the last few years, expressed worry that an increase in the pump price of petroleum products would further erode the purchasing powers of many Nigerians.
He said: “Nigerians also cannot bear the cost of a petrol hike because they are so impoverished that they can’t also bear the inefficiency of our system for these numbers of years.
“We are the only OPEC country that is importing refined products. It is because of the inefficiency of governments – both past and present that we are not able to fix our refineries.
“Therefore, at this very critical times, it is very clear that Nigerians also can no longer shoulder this burden because the implications are also grievous.”

 

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