NLC to govt: Allow market forces determine petrol price
The Nigeria Labour Congress (NLC) has advised the Federal Government to allow market forces determine the pump price of petroleum products.
Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, had said the price of petrol could hit N300 per litre once the petroleum industry bill (PIB) becomes a law.
But yesterday,the Minister of State for Petroleum, Timipre Sylva doused fear of imminent price hike by assuring that organised labour must be carried along.
The National Administrative Council of the NLC will meet tomorrow to take an official position on the bill which was assented to by President Muhammadu Buhari. on Monday.
Deputy President of the NLC, Joe Ajaero said the government must make the country’s refineries work before it can deregulate the downstream sector.
He said: “Is deregulation synonymous to price increase? If you say you are deregulating you allow market forces to determine. Why is the government saying petrol will sell at a particular price? That is equally price Fixing.
“It is complicit for any Head of that corporation to be telling us what it will cost (to buy petrol) when they deregulate.
“If what we understood from inception that deregulation will be left for market forces; it (price of petrol) can come down, it can go up. So why is he fixing a price?
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