According to reports, the Nigeria Labour Congress (NLC) has cautioned the government over the continuous increase in fuel price despite the economic hardship in the country.
This is coming just as retail stations increased their pump price from N141 to N145, and some private marketers increased to N150.
It was also gathered that some filling stations such as Oando and Mobil filling stations opposite Magboro off the Lagos-Ibadan expressway, did not sell the products on Saturday, thereby arousing fear of an impending fuel scarcity.
The NLC secretary stated that the increase in the fuel price was insensitive of the government and that it was up to the Nigerian citizens to accept or reject the hike.
He said, “we do hope that Nigeria will realise that this has no end and what the government is doing will continue to impose extreme hardship on them, and they need to tell the government that enough is enough.
“Other than that, we oppose any adjustments in the pump price. if the government goes ahead to do it, it will indicate what we hinted right from the beginning that the policy adopted was wrong and it remains wrong.
“It is up to Nigerians to oppose it. We provided the necessary leadership based on our understanding of the issues and the reality is coming home to roost and it is never too late.
“Nigerians will take the decision as to how to live with it.”
The PPRA pricing template for PMS was last updated on May 24, 2016, and it had the pump price at a band of N135 to N145 per litre.
The government have attributed scarcity of foreign exchange as a factor to consider when petroleum prices are fixed.
According to reports, oil marketers stopped importing fuel into the country because the landing cost had gone beyond what the PPRA stated in the template for product and the government through the NNPC.
The Niger Delta crisis has also been a major cause of concern to the low foreign exchange generated in the country. The continuous bombings of pipelines have reduced the crude oil sale of the nation.
This development has led marketers to source for the product from pipeline and product marketing company at around N132 per litre, whereas the actual landing cost of the product is between N132 and N137 per litre.
However, the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has faulted the increase and denied knowledge of it, saying he is unaware of any recent changes in the pump price.
The Minister promised to investigate the increase and also discuss with marketers on how to avoid an increase, in order to reduce the economic hardship in the country.