In a statement by Ayuba Wabba, the NLC President, the union condemned the increase in the price of the product, stating that that the recent hike has worsened the level of pain and anguish in the country.
According to the NLC, it is worrisome that Nigerians are made to continue to suffer for the failures of successive governments to properly manage the nation’s refineries.
The union warned that Nigerians have a tolerance limit for the continued increase in the price of petrol and other essential goods and services.
The Federal Government had announced a new pump price band for petroleum products, raising the ex-depot price of petrol to N155.17, making marketers sell between N165 and N173 per litre to consumers.
Read NLC’s full statement below:
There is no doubt that there is great disquiet in the land over the extraordinary level of inflation in the country. The recent increase in the pump price of the Premium Motor Spirit (PMS) has only exacerbated the current level of pain and anguish in the country.
It has also cast in very bad light our utmost good faith with regards to government explanations that it lacks funds to continue bankrolling the so-called subsidy payments as such would sooner than later cripple the entire economy, throw the country into severe economic crisis and cause loss of jobs in millions.