Fuel Subsidy: FG, NLC Meeting Ends In Deadlock As Fuel Price Hits Over N700 Per Litre

Dele Alake, the spokesman to President Bola Tinubu disclosed this on Wednesday while briefing journalists on the outcome of the meeting between the federal government and the NLC.

Alake said talks between the Labour union and the government would continue at a later date.

Recall that the Nigeria National Petroleum Company Limited, NNPCL, on Wednesday, confirmed the increase in the pump price of premium motor spirit, PMS, widely known as petrol, in its retail outlets across the country, saying price adjustments were in line with current realities.

The development followed President Bola Tinubu’s inaugural speech in which he announced the removal of fuel subsidy.

However, the NLC rejected the new price template, claiming it was unacceptable and demanded for its withdrawal immediately.

Meanwhile, the presidential spokesperson said the government will keep talking with the organized labour with a view to arriving at a very amicable solution that would be in the interest of all Nigerians.

“We cannot go into any details now because talks are ongoing. We cannot finish everything at one sitting. So we have adjourned now.

“We are continuing talks at a later date, very very shortly. But the important thing is that talks are ongoing. It’s always better to keep talking with a view to arriving at a very amicable solution that would be in the interest of all Nigerians. That’s the much we can say now,” Alake said.

Meanwhile, the price adjustment is currently generating controversies and has stimulated the hoarding of fuel by marketers, causing queues in stations.

Glamtush reports that stations dispensing the product to customers across the country are selling at the rate between N500 and N750.

The development has attracted outrage from a vast majority of Nigerians, with many knocking the present government for taking such a decision without first putting up measures to cushion its effects.

Transporters have also tripled their fares, leaving passengers to bear the brunt.

The cost of other goods and services are also expected to jerk up in a matter of days.

However, those in favour of the government’s policy are of the view that subsidy had all the while become a drain pipe.