NNPC gets one week to review fuel price

The Nigerian National Petroleum Corporation (NNPC) has been given one week within which to consider a reversal of the pump price of petrol.

This is part of the resolutions of a meeting of Federal Government and the organised labour held on Thursday, according to a source at the parley.

The meeting was adjourned till December 7.

The price of the Premium Motor Spirit popularly known as petrol was raised from N161 per litre to N168 per litre, the second time in less than three months

The organise labour has kicked against the price hike which it considered unwarranted and a betrayer by labour, coming mid-way into their negotiations with government on how to cushion the economic difficulties brought by the earlier increase.

Labour leaders who felt ambushed by the federal government’s action staged a walkout at a meeting with government last Sunday, insisting on the reversal of the fuel price increase before talks could continue.

At the rescheduled meeting with representatives of labour on Thursday night, government and labour leaders at the meeting agreed to give NNPC one week to reconsider issues that led to the increase.

A source at the closed-door meeting said that Labour insisted that the fuel price hike must be reversed to what it was as at September 28.

“After efforts to see if discussions on other issues can go on failed, the Group Managing Director of the NNPC also tried to make presentations but was rebuffed by labour,” the source added.

The meeting reportedly resolved that the NNPC GMD, Mele Kyari, be allowed to go back to his principals to consult and come back to brief the meeting after one week.