Monday, February 6, 2023
  • Login
No Result
View All Result
The News Beam
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
The News Beam
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
No Result
View All Result
The News Beam
Home News Business & Economy

NLC condemns fuel price hike, accuses FG of betrayal

November 16, 2020
in Business & Economy, Industry
Reading Time: 2 mins read
0
A A
0
NLC
Share on FacebookShare on Twitter
The Nigeria Labour Congress, NLC, has denounced the latest increase in the pump price of the Premium Motor Spirit (PMS), otherwise known as petrol, from N160 to N170 by the Federal Government demanding for immediate reversal.

Comrade Ayuba Wabba, NLC’s President, in a statement released on the official website of the union, said that the recent increase was pointing towards the direction that government has refused to keep up with its end of the bargain to take serious steps in recovering and repositioning public refineries. 

Recall that in September the union had canceled a nationwide protest following an agreement with the Federal Government that the then hike in electricity tariff will be suspended for a period of 2 weeks, while the pump price of petrol remain unchanged as government planned to reposition refineries.  The government, through NNPC on Friday, however, announced an upward review of the price to 170.

He said “the recent increase in the pump price of PMS is clearly against the spirit and content of what Organized Labour agreed with government at the last negotiations over the last fuel price increase”

“It has also cast in very bad light our utmost good faith with regards to government 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 added.

According to him, the country’s present “precarious” economic condition is majorly because the government isn’t conscious of it’s responsibilities.

“Nigerians cannot be made to bleed endlessly for the failures of successive government 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”

While waiting on updates from union’s representatives in the petroleum sector “given the mandate to keep surveillance on government promise to overhaul public refineries”, Wabba gave series of suggestions to the government on how to eliminate high prices of refined petroleum products in the country.

This includes declaring a state of emergency in the downstream petroleum sector, government entering into contract refining with refineries closer home to Nigeria, government demonstrating the will to stamp out the smuggling of petroleum products out of Nigeria, government carrying Nigerians along on the distribution of refined petroleum products.

The NLC also calls on government to review the entire process of licensing for modular and bigger refineries.

ALSO READ: Gowon 8.45k to Buhari N173: The Legend Of Fuel Price Hike In Nigeria

Tags: Fuel Price hikeNigeria Labour Congress
ShareTweetSend
Previous Post

Osinbajo Visits Lagos to Launch State Govt’s Rebuilding Efforts

Next Post

5 Facts about the Latest Highly Effective Coronavirus Vaccine

Related Posts

REVEALED! Bank officials hiding new notes behind old notes
News

REVEALED! Bank officials hiding new notes behind old notes

February 4, 2023
48
Banks suffer 11% reduction in new loans as customers resist interest rate hike
News

Shortage of New Naira notes: Emefiele begs Nigerians, says CBN addressing supply hiccups

February 3, 2023
64
Banks suffer 11% reduction in new loans as customers resist interest rate hike
Business & Economy

New Naira Notes: CBN allows  banks to pay N20k per day over-the-counter

February 2, 2023
41
New Naira Notes: Emefiele blames banks for scarcity, abuse at parties
Finance

New Naira Notes: Emefiele blames  banks for scarcity, abuse at parties

January 31, 2023
37
Delia Ferreira Rubio, Transparency International Chairperson
News

Corruption: Nigeria ranks 150 out of 180 countries

January 31, 2023
33
Inflation in December 2022
News

What you need to know: December inflation rate at   21.34%

January 16, 2023
19
Next Post
5 Facts about the Latest Highly Effective Coronavirus Vaccine

5 Facts about the Latest Highly Effective Coronavirus Vaccine

Alert!! A total number of 22,534 Covid-19 Cases has been confirmed in Lagos State

Alert!! A total number of 22,534 Covid-19 Cases has been confirmed in Lagos State

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

  • Trending
  • Comments
  • Latest
How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

How to Apply for the N25 Billion Youth Investment Fund of the Federal Govt

October 16, 2020
Covid-19: See List of Vaccination Centers in Lagos State

Covid-19: See List of Vaccination Centers in Lagos State

August 19, 2021
Banks suffer 11% reduction in new loans as customers resist interest rate hike

CBN reveals 9 Business Categories that recorded Increased Activity This Month

9
BREAKING ! How Hurriedly installed Application Saved Central Bank of Nigeria website from 'Anonymous' hack

BREAKING ! How Hurriedly installed Application Saved Central Bank of Nigeria website from ‘Anonymous’ hack

7
REVEALED! Bank officials hiding new notes behind old notes

REVEALED! Bank officials hiding new notes behind old notes

February 4, 2023
Banks suffer 11% reduction in new loans as customers resist interest rate hike

Shortage of New Naira notes: Emefiele begs Nigerians, says CBN addressing supply hiccups

February 3, 2023

Categories

  • Agriprenuers (12)
  • Books & Arts (7)
  • Business & Economy (436)
  • Capacity Building (25)
  • CDAs (2)
  • Community Champions (1)
  • Crime (196)
  • DEVELOPMENT (74)
  • Development Agencies (109)
  • Economy (318)
  • Education (192)
  • Entertainment (405)
  • Faith (55)
  • Finance (339)
  • Global (103)
  • Guest Columnists (17)
  • Health (56)
  • Health (242)
  • Industry (149)
  • LGAs (1)
  • Lifestyle (98)
  • MGDs (10)
  • News (2,298)
  • Politics (374)
  • Projects (2)
  • Relationships (70)
  • Security (164)
  • SMEs (15)
  • SPECIALS (87)
  • Sports (311)
  • Street Money (9)
  • Tech (138)
  • Teens World (3)
  • The Entrepreneur (26)
  • Uncategorized (70)
  • Your Community (33)
  • Youthprenuers (14)
No Result
View All Result
News
Politics
Business & Economy
Sports
Entertainment
Global

Development

Health
Education
MGDs
Development Agencies

Your Community

CDAs
LGAs
Projects
Community Champions

The Entrepreneur

Street Money
SMEs
Youthprenuers
Agriprenuers
Capacity Building

Specials

Lifestyle
Relationships
Books & Arts
Faith
Teens World
Guest Columnists

Follow Us

  • About Us
  • Contact Us
  • Terms of Usage
  • Privacy Policy
  • Advert Rates
  • Newsletters
  • Resources
  • Submit a Story
No Result
View All Result
  • Home
  • News
    • Politics
    • Business & Economy
    • Sports
    • Entertainment
    • Global
  • Development
    • Health
    • Education
    • MGDs
    • Development Agencies
  • Your Community
    • CDAs
    • LGAs
    • Projects
    • Community Champions
  • The Entrepreneur
    • Street Money
    • SMEs
    • Youthprenuers
    • Agriprenuers
    • Capacity Building
  • Specials
    • Lifestyle
    • Relationships
    • Books & Arts
    • Faith
    • Teens World
    • Guest Columnists
  • Login

© 2020 The News Beam is the highest circulated and most read newspaper in Nigeria. The online portal of The News Beam is the most visited website in the world.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Subscribe With The News Beam