Fuel Price Strike: Fg Pleads With Nlc/tuc
The Federal Government has pleaded with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress to shelve their proposed strike over the new petrol price of N145 per litre.
The Minister of Information and Culture, Alhaji Lai Mohammed, made the plea at an interactive session with journalists in Abuja on Monday.
Mohammed said the new price was introduced so that the country could survive as government could no longer afford the foreign exchange spent by the NNPC to import petrol.
According to him, the nation’s earnings had dropped to about 550 million dollars because of the fall in the price of crude oil, and government needed about that amount to import fuel.
“If we continue along this line, we will get to a point where the country will be completely broke,” he said.
“That is why this policy has become absolutely necessary and we have no option.
“We are therefore seeking the understanding of all Nigerians and appealing to the organised labour to sheathe their sword.
“This is not the time for any action that will further worsen the economy. The situation is dire, not just in Nigeria but elsewhere around the world.
“It is only going to be a temporary hardship because with the discipline of this government and political will, things will be put in shape.
“The moment we liberalise and open the market up, there will be competition and the price will come down and there will be petrol glut.”
The Minister assured that the suffering brought about by the new price regime would be for a very short time because government had put in place a number of palliatives which were captured in the 2016 budget.
He added that government was working hard to ensure that the refineries which are already working, worked to optimum capacity and government had opened bids inviting people to invest in modular refineries to be located close to existing major ones for access to crude.
He said the modular refineries were expected to refine 650,000 barrels of crude a day while the refinery under construction by the business mogul, Alhaji Aliko Dangote, would also refine 750,000 barrels of crude daily.
Mohammed said that with all these in place, Nigeria would become a net exporter of fuel and other petroleum products by 2019.
The Minister also spoke about the United Arab Emirates which had announced that fuel prices would be deregulated with effect from Aug. 1, 2016, and OPEC's top oil producer, Saudi Arabia, which had also announced a plan to raise fuel prices in response to fiscal pressure caused by the fall in crude oil prices.