the Nigeria Labor Congress (NLC) and Trade Union Congress (TUC) claims that the current fuel scarcity in Nigeria is due to Downstream retail companies “hiking the price above the government approved threshold”.
This was disclosed in a statement signed by the trade unions urging the FG to end the issues.
They warn that non-state actors must have the capacity to influence the necessary energy demand.
No good reason: The Presidents of NLC and TUC Mr Ayuba Wabba and Mr Festus Osifo said there is no good enough reason to explain the fuel scarcity Nigerians are facing.
They expressed shock at the persistent shortages and uncontrollable prices that players in the downstream sector of the petroleum industry are met with by Nigerians.
- “There is no reason that is good enough to cripple the country. If there are challenges, they must be fixed. We have a government that has the power to fix the challenges without making excuses,” they said.
Economic consequences: They added the continued shortage of Premium Motor Spirit (PMS), otherwise known as petrol, has tragic consequences for Nigerians and debilitating effects on the health of the economy which is not in good shape.
- “We have been reliably informed that the shortage is being deliberately developed by players in the downstream sector among others to increase the price beyond the government approved threshold.
- “It will be an additional problem if non-state actors begin to arrogate to themselves the power to determine the price of a liter of fuel above the rate set by the government in the current subsidy regime .”
They also revealed that Nigerians and the tax payers are currently spending trillions of Naira every year to subsidize petrol saying the same people will not benefit and pay more than N240 per liter if the current price ex-depot is N148.19k per litre, caution. the benefits of the subsidy regime are gradually being phased out.
If you missed it: Nairametrics previously reported that the NNPC had revealed the reasons behind the acquisition of the queues. According to the company, “The recent queues in Lagos are largely due to ongoing road infrastructure projects around Apapa and road access challenges in some parts of Lagos depots.”
The NNPC, however, noted that the gridlock has eased as the NNPC has programmed ships and trucks at unrestricted depots, with bulk shipments from the depots to various states being closely guarded. .