NLC Threatens Another Nationwide Strike If Petrol Price Rises Again

The Nigeria Labour Congress (NLC) has threatened to embark on another nationwide strike over the speculations that the Premium Motor Spirit (PMS) popularly known as petrol could rise again.
According to recent reports, the Trade Union Congress (TUC) has joined the NLC in its opposition to the recently planned fuel price increase.
The NLC President, Comrade Joe Ajaero, said this at a meeting in Abuja and labeled the move as “illegal.”
Earlier, Chief Chinedu Ukadike, National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria (IPMAN), noted that the price of petrol is currently determined by volatility in currencies, thus Nigerians should prepare for a rise soon.
When answering the question of whether oil marketers were considering an increase in petrol price, Ukadike said, “Once there is a slack in the naira against the dollar, there is going to be an effect. The demand and supply of forex is a key factor. We should also understand that it is not only petroleum products that use forex.
“Other manufacturers who import one thing or the other are also searching for dollars. So, the surge for dollars has continued to increase. So now that the dollar is hitting N910 to N940, and approaching N1,000, you should expect to buy PMS at the rate of N750/litre.”
Ukadike disclosed that oil marketers were still sourcing dollars from the parallel market, as the Central Bank of Nigeria’s Importers and Exporters official window was not easily converted to cash.
“Nigerians should brace for a price regime of between N680 to N720 if the exchange rate stays around N910 to N950 per one dollar, but the price is going to hit N750 once,” Ukadike said.
Speaking on AIT on Monday, however, the NLC pledged to move forward with a complete, all-encompassing, and indefinite nationwide shutdown of the nation should the current N617 petrol pump price increase again.
At the African Trade Union Alliance meeting in Abuja, Ajaero issued the warning. Union Labour also issued a similar warning against undermining the union’s demands.
Kindly share this story:
Kindly share this story:
Share on whatsapp
Share on facebook
Share on twitter
Share on linkedin
Share on telegram
Share on facebook
Top News

Related Articles