There was no agreement reached at the end of the meeting between the Federal Government(FG) and the Nigeria Labour Congress, or NLC, about the elimination of gasoline subsidies.
This information was provided to the media on Wednesday at a briefing on the meeting between the federal government and the NLC by Dele Alake, President Bola Tinubu’s spokesperson.
Alake stated that more discussions between the government and the labor union will take place later.
Recall that the Nigeria National Petroleum Company Limited, NNPCL, declared on Wednesday that the pump price of premium motor spirit, PMS—commonly known as gasoline—would be increasing in all of its retail locations across the nation. The company said that the price modifications were made in response to the present situation.
President Bola Tinubu announced the elimination of gasoline subsidies in his inauguration speech, which was followed by the development.
The NLC, however, deemed the new pricing structure unacceptable and requested its immediate removal.
The presidential spokesperson stated that negotiations with organized labor will continue in the hopes of reaching a very amicable resolution that is in the best interests of all Nigerians.
We can’t provide specifics at this time since negotiations are underway. We are unable to do everything in one session. Therefore, we have now ended.
“We will resume our conversation at a later time, quite soon.
In order to get a really acceptable settlement that would be in the best interests of all Nigerians, it is always preferable to continue discussing. That is all we can say at this time, Alake stated.
Meanwhile, the price shift has sparked debate, encouraged marketers to stockpile gasoline, and resulted in long lines at gas stations.
According to 9jaknow, the substance is being sold at stations throughout the nation at a fee between N500 and N750.
The majority of Nigerians are outraged by the development, and many criticize the current administration for making it without first putting in place measures to mitigate its impacts.
Transporters have also quadrupled their prices, putting the burden on the passengers.
In the next days, the price of other goods and services is also anticipated to spike.
However, many who support the government’s policies believe that subsidies have long since turned into a drainpipe.