Fixing pump prices by NNPCL an aberration –NLC

Fixing pump prices by NNPCL an aberration –NLC
By NEXTER
The Nigeria Labour Congress (NLC), has said it is an aberration for the Nigerian National Petroleum Company Limited (NNPCL), to fix the pump price of petroleum products in the country.
The congress in a statement on Wednesday, contended that the NNPCL as a private company cannot determine how much the product should be sold in the open market.
It, therefore, called on the federal government to immediately reverse the latest hike, which pegged the petrol price at N1030 from N898.
The NLC’s position was contained in the statement which was signed by its national president, Mr. Joe Ahaer and made available to journalists in Abuja.
The statement reads, “We are dismayed by the latest increase in the pump price of petrol. It looks like the only thing this government is known for is the increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.
“Even following the logic of market forces, we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly. We challenge the government to go to the drawing board and present us with a blueprint for inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy.
“It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities. It will further deepen poverty as production capacities dip, and more jobs lost with multidimensional negative effects.
“In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good results. People only got poorer. But more fundamentally, the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”