The Nigeria Labour Congress (NLC) has condemned the latest hike in the pump price of fuel by the Federal Government and demanded an immediate reversal.

This is coming about three days after the announcement by the Petroleum Products Marketing Company Limited of an increase in the ex-depot price of petrol from N147.67 per litre to N155.17 per litre and directed filling stations to sell the product between N168 and N170 per litre.

But the Nigeria Labour Congress said the action was a breach of the agreement it recently reached with the Federal Government.

President of NLC, Ayuba Wabba, said it also cast in a bad light “our utmost good faith with regard to government’s explanations that it lacks funds to continue bankrolling the so-called subsidy payments” as such would sooner than later cripple the entire economy, throw the country into severe economic crisis, and cause loss of jobs in millions.

He expressed this position in a statement on Monday in Abuja to condemn the increase, alleging that there was no doubt that there was great disquiet in the land over the extraordinary level of inflation.

It said the Federal Government did this despite an agreement that it would take immediate steps to revamp the nation’s ailing refineries.

It said, “The recent increase in the pump price of premium motor spirit (PMS) has only exacerbated the current lev­el of pain and anguish in the country.

“The recent increase in the pump price of the PMS is clearly against the spirit and content of what organised labour agreed with the government at the last negotiations over the last fuel price increase.

“While we await the full recovery of our refineries as contained in our agreement with the government, Nigerians cannot be made to bleed endlessly for the failures of successive governments to properly manage our refiner­ies, ensure value for money for the numerous turn around maintenance (TAM) which were poorly and barely exe­cuted and the horrifying lack of interest in prosecuting pub­lic officials and private busi­ness people who have profited from the rot in our petroleum sector and the collective misery they have imposed on the general population.”

The NLC also said there was a limit to what the citizens could bear if the increases in the price of refined petroleum products and other essential goods and services continued.

It stated, “While we fix our refineries, there are a number of options open to the government to stem the tide of high prices of refined petroleum products. One is for the government to declare a state of emergency in our downstream petroleum sector.

“As a follow up to this, the government should enter into contract refining with refineries closer home to Nigeria.

“This will ensure that the cost of supplying crude oil is negotiated away from prevailing international market rate so that the landing cost of refined petroleum products is significantly reduced.

“Government should also demonstrate the will to stamp out the smuggling of petroleum products out of Nigeria.

“We need to see big time petroleum smugglers arraigned in the court of law and made to pay for their crimes against the Nigerian people. Government has the resources available to it to en­sure this economic justice to Nigerians.

“The question on the minds of many Nigerians is if the government is willing to go headlong against major financiers of the major political parties known to the public as the architects of the current national woe,” he stated.

Labour insisted that information on the distribution of petroleum products to petrol stations be advertised as a way to carry everyone along on with the distribution of refined petroleum products.