Business
THE federal government and organized labour have adjourned their negotiation for a week to enable the former consider reviewing the price of fuel.
Both the government team led by Boss Mustapha, secretary to the government of the Federation, SGF, and organized labour agreed that the meeting should be adjourned and resume on December 7.
Realnews reports that organized Labour had requested the government to reverse the recent fuel price increase because it breached their agreement reached in September.
After their meeting, which lasted for three hours, Chris Ngige, minister of labour and employment, said that the federal government team will relay the position of labour to President Muhammadu Buhari, who is the minister of petroleum and also to the Economic Management team because funds are involved.
According to Ngige, “By Monday, December 7, we will come back, because the message from the organised labour is clear. They want a reversal of the pump price to what it was. So, the government side will take it back to our principals.
“Even though government is not fixing the price of premium motor spirit (PMS) anymore because it is deregulated, it is part of the economy. So, the government side will consult anybody that needs to be consulted.
“We will consult the President as the Minister of Petroleum and then, the Economic Management team because funds are involved.”
Joe Ajaero, deputy president of the Nigeria Labour Congress, NLC, expressed hope that the reversal would have taken place before resumption of negotiations.
Realnews reports that the price of fuel has increased four times in the year 2020 alone. In June fuel price increased from N121.50 to N123.50 per litre; in July it moved from N140.80 to N143.80 while in August it upped from N148 to N150. At present, a litre of fuel sells between N163 and N168 per litre after the Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, increased the ex-depot price of petrol from N147.67 per litre to N155.17 per litre for this month.
The increase in the price of fuel has had a corresponding increase in double digit inflation with price of goods and services, especially food stuff skyrocketing.
27, N0V 2020 @18:16 GMT
Tags: FG NLC to resume negotiation on fuel price increase December 7
