– NUPENG, PEGASSAN have endorsed the
price mechanism adopted by FG to arrive at
the new N145 per litre pump price for petrol
– The two unions asked FG to immediately
commencement of negotiation of minimum
wage for workers across all cadres.

Following the removal of subsidy from petrol,
the two major unions in Nigeria’s oil and gas
sector endorsed the price modulation
mechanism adopted by the Federal
Government to arrive at the new N145 per
litre pump price for petrol.
According to a report by Punch newspaper,
the two bodies called for stakeholder
engagement by the government to further
discuss issues pertaining how to reinvest the gains from the price modulation mechanism.

“The NEC-in-session had an extensive
discussion on the recent price
modulation. The NEC-in-session is of the
view that price deregulation has its
benefits in the immediate and near
future. However, the NEC-in-session
strongly demands the Federal
Government’s engagement with the
stakeholders to work out a clear direction
on how to reinvest the gains into the
economy to cushion the effect of the
price,” the communique reads in part.
The unions asked the government to ensure
optimal performance of the existing refineries
and also put in place machinery for the
construction of new refineries in the country
to ensure adequate production for domestic
consumption and possibly export.
The workers added that there was also the
need for the “engagement of critical
stakeholders for the Federal Government
to provide a road map with timelines of
the infrastructures it intend to embark
upon with the proceeds from this price
modulation to cushion the harsh effects
of the new direction. “Immediate reconstitution of the board of
PPPRA and PEF for the management of
the new price regime and the
reconstitution and the re-strengthening of
relevant agencies such as Standard
Organization of Nigeria, DPR and the
Nigeria Customs and Excise Department
to prevent the abuse of the new
framework of PMS supply and
distributions.”
They further stressed that there should be an
immediate commencement of negotiation of
minimum wage for workers across all cadres.

This is a clueful government. The reign of corruption and cluelessness is gone. Let us now deploy palliatives and no corruption please. The masses are already suffering.

Why the incessant replication of this topic?

Myndd44.

The 50:50 Venture/Import of Fuel for Domestic Use should be stopped.. NNPC should provide 100 percent refined products for Home Use.