Fuel subsidy: FG and NLC meeting concludes in stalemate

The meeting between the Federal Government and the Nigeria Labour Congress, NLC, regarding the removal of petroleum subsidies has concluded without an agreement.

Wednesday, President Bola Tinubu’s spokesman Dele Alake briefed reporters on the outcome of the federal government’s meeting with the NLC.

Alake stated that the government and the Labour union would continue their discussions at a later date.

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

This occurred after President Bola Tinubu’s inaugural address, in which he proclaimed the elimination of petroleum subsidies.

Nonetheless, the NLC rejected the new pricing formula, asserting that it was untenable, and demanded its immediate withdrawal.

In the meantime, the presidential spokesperson stated that the government will continue to negotiate with organized labor in an effort to reach a solution that is in the best interests of all Nigerians.

“We cannot discuss specifics at this time because negotiations are ongoing. We cannot complete everything in a single session. So we have now adjourned.

“We will continue discussions at a later date, very shortly. However, it is essential that discussions are ongoing. It is always preferable to continue conversing in order to reach a very amicable solution that is in the best interests of all Nigerians. “This is all we can say at this time,” Alake said.

Currently, the price adjustment is causing controversies and has prompted marketers to stockpile gasoline, resulting in long lines at gas stations.

According to OBASANJONEWS24, stations dispensing the product to consumers across the nation are charging between N500 and N750.

The majority of Nigerians are outraged by the development, with many criticizing the current government for making such a decision without first implementing measures to mitigate its effects.

Transporters have also quadrupled their fares, placing the burden on passengers.

In a matter of days, the cost of additional products and services is anticipated to spike.

Those who support the government’s policy, however, believe that subsidies have always been a drain conduit.