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Labour Set For Showdown Over Fuel Price Hike



Fuel Price Hike Labour

Labour Set For Showdown Over Fuel Price Hike

The Nigeria Labour Congress (NLC) has rejected the increase in the price of petrol from N121 to N143 per litre, vowing to resist its implementation.

This is even as the Petroleum Products Price Regulatory Agency (PPPRA) has insisted that the hike was done in line with prevailing market realities.

The congress, in a statement issued by its president, Comrade Ayuba Wabba, said Nigerians have groaned to pay these unjust costs of petrol hike for years, adding that this latest increase might just be the last straw that would break the camel’s back.

The NLC therefore urged the federal government to revert to the old price of fuel, especially given the fact that price of crude oil in the international market has only slightly increased from the previous price before the so-called downward review was announced two months ago.

Wabba said: “When the statement by the PPPRA is juxtaposed with the recent killer electricity charges unveiled by DisCos, Nigerians cannot help but feel the heat of a potent threat to run millions of Nigerians under. It is even worse that this is coming at a time when our people are living on the precipice of the COVID-19 pandemic.”

He stressed that the last downward review in the price of petrol was at the beginning of the COVID-19 lockdown, saying the economic benefits of the so-called “downward” review was hardly enjoyed by ordinary Nigerians who were mostly indoors.

He expressed shock that just as the lockdown was being eased and as soon as the interstate travel ban was lifted, the government decided to hike petrol price.

Wabba said, “That this new hike in the pump price of petrol was announced without the approval of the board of the PPPRA and the oversight ministry speaks volume of the arbitrariness and public contempt in the operations of PPPRA. We find this deeply disturbing.

“There is no way Nigerians would accept a situation where we are charged international rates for a product which Nigeria is the sixth largest producer in the world.

“The extra costs that the PPPRA wants Nigerians to pay in order to promote “growth” and “investment” are actually the cost of profits made by countries that we ship our crude oil to, the cost of sea freight of the refined products, the cost of demurrage at our seaports when the refined products arrive, the cost of frequent devaluation of our national currency, and the cost of official corruption by gatekeepers managing the downstream petroleum sub-sector.”


But reacting to the labour’s position and the threat to go on strike, the spokesman of PPPRA, Kimchi Apollo, told Source Friday that the agency did not take the decision unilaterally.

He said, “We took into consideration the various factors affecting the market as well as trying to ensure that petroleum products marketers do not exploit consumers.

“People must remember that when we started this thing in March we told the country that we are not going to do price fixing but give a guide by offering price range. That is what we have done.

“In reaching our decision we took into account various factors affecting the market. Most people talk about us (Nigeria) producing crude oil and most times think the downstream market has to do with our production of crude oil, but they fail to realise that we import petrol into this market and that involves a lot of factors. You need to understand too that we buy at the prevailing market price.

“We did what we did as an agency of government charged with the responsibility of managing product price so that operators do not take advantage of consumers.

“If we say we no longer want petrol subsidy then we must work with the market reality. If we compel the government to reduce the price, then the government will have no option but to pay subsidy.

“We have all been clamouring for a diversification of our economy. For government to be able to do so, it must be free from payment of fuel subsidy so that the money could be invested in other sectors of the economy.

“Everything was done in good faith, we took into consideration the fact that we don’t have to fix the price of the commodity, that marketers are not allowed to over-charge the consumer. If we allow for total deregulation as it is with diesel, you will see that the marketers will take advantage of the consumers. Take for instance, when the price of crude oil declined globally the price of diesel in the Nigeria market did not reflect that decrease.

“As for Labour contending with the price rise, we know that Labour is usually confrontational but that will not solve the problem for now.

If we must fix the industry then we all must be prepared to make some sacrifices to make it work.”

PDP Rejects N143.80k New Fuel Price

Also, the Peoples Democratic Party (PDP) yesterday rejected the announced increase in fuel price from N123 to N143.80 per liter, describing it as a punishment to Nigerians given the prevailing economic hardship foisted on country by the administration.

The party said the hike, despite the decline price of crude oil in the international market, was grossly unjustifiable and has further exposes the insincerity of the APC and its administration.

PDP’s national publicity secretary, Kola Ologbondiyan, in a statement noted that in directing a fuel price increase at the time Nigerians are facing the economic and social trauma of the COVID-19 pandemic, the President Muhammadu Buhari-led APC administration shows a total lack of human feelings to the plights of citizens.

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Labour Force

Kogi Governor Approves Implementation of N30,000 Minimum Wage for workers



Kogi Governor Approves Implementation of N30,000 Minimum Wage for workers

Kogi state governor, Yahaya Bello, has approved the implementation of N30,000 as minimum wage for the workers in the state.


The secretary to the state government, Folashade Ayoade disclosed this on Tuesday after an extensive meeting with the organized labour in Lokoja


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She blamed the delay in the implementation on the inability for the committee to meet regularly due to the covid-19 pandemic which has been overcome.


The SSG equally commended the organised labour for their understanding and patience, which she said has resulted into the signing of the implementation of the new minimum wage.

Read Also: FCTA Set to Implement Minimum Wage for FCT Workers

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CBN to End Forex Sales to Commercial Banks in 2022



Author: Eunice Johnson, Abuja 

The Central Bank of Nigeria (CBN) has put Deposit Money Banks (DMBs) on notice that it will stop selling forex to them by the end of 2022. CBN Governor Godwin Emefiele made this known in Abuja on Thursday at the end of the Bankers’ Committee Meeting where he also introduced the RT200 Programme.




Emefiele said the time had come for the banks to go out there and source for forex by funding entrepreneurs with ideas. The CBN, Emefiele said, will support the banks by granting rebates and other support until the banks find their feet in sourcing their forex by themselves.

He also disclosed that the apex bank’s policies and measures have led to a significant improvement in diaspora inflow from an average of US$6 million per week in December 2020 to an average of over US$100 million per week by January 2022. He added that the CBN would be reviewing these intervention programmes going forward to ensure that they continue to achieve the desired results.

He said international bodies, including some embassies and donor agencies, have been complicit in illegal forex transactions that have hindered the flow of foreign exchange into the country.


Read Also: CBN Encourages Nigerians to Accept E-Naira

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Customs Corner

Customs CG Deploys 37 Comptrollers as Comptroller Attah Heads Kebbi Command



Customs CG Deploys 37 Comptrollers as Comptroller Attah Heads Kebbi Command

Author: Gift Wada, Abuja

The Comptroller General of Customs Col. Hameed Ibrahim Ali (Rtd.) has approved the deployment of 37 Comptrollers to various Units, Departments and Commands across the country.

This was disclosed in a release signed on Tuesday by the Customs Deputy National, DC Timi Bomodi for the Comptroller General of Customs.

Among those deployed are the present National PRO of Customs Comptroller Joseph Attah who will assume the office of Area Controller of Kebbi Command, Comptroller AAS Oloyede who shall be moving from ICT/MOD to Tin Can Island Port Command, while Comptroller SI Bomoi to FCT Command. Other postings are Comptroller BA Jaiyeoba to Oyo/Osun Command, Comptroller A Dappa-Williams to Eastern Marine Command, Compt. MA Umar Kano/Jigawa, Compt. KC Egwuh ICT/MOD, Compt. LM Mark Enugu/Anambra/Ebonyi, Compt. T Tachio CTC Kano, Compt. AA Umar Western Marine, Compt. M Dansakwa North Eastern Marine, Compt. AC Ayalogu T & T and Compt. KD Ilesanmi will assume duty as Comptroller Board among others.


Ali in postings released on 7th of February, charged the newly posted Comptrollers to justify the confidence reposed in them by NCS Management by bringing to bear their years of experience and training in trade facilitation and anti-smuggling activities on their new assignment.


Given the enormous expectations of government regarding revenue generation in the current year, the Comptroller General reiterated the need for all Area Controllers and Unit heads to take full charge of the affairs of their Commands by ensuring absolute compliance with extant fiscal policies while leveraging on the efficient management of data to optimize trade facilitation and revenue collection.

Furthermore, the CGC directed all officers to be extremely vigilant in protecting the lives and wellbeing of Nigerians by ensuring the full fortification of our borders against the incursion of smugglers and other cross border criminals.

Read Also:

Customs Raises Concerns over Finance Act as Senate Sets N3trn Target for Revenue Agencies

Comptroller Ali Ibrahim Assumes Duty as New Customs FOU Zone ‘C’ Boss

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