The Nigerian Labour Congress (NLC) has accused the Minister of State for Petroleum Resources, Ibe Kachikwu, of plotting to deregulate the prices of Premium Motor Spirit (PMS) through propaganda.

NLC said such move would be resisted by all means, as affiliate unions under it were already being mobilised against the planned deregulation.

The Petroleum Pricing Regulatory Agency (PPPRA) in Nigeria had announced the implementation of the revised components of the Petroleum Pricing Template for Premium Motor Spirit (PMS).

In a statement by the Executive Secretary of the PPPRA, Mr Farouk Ahmed, the pump price was put at 86.50 Naira per litre, a price the agency said was in line with the prevailing market trend.

“This new price regime is with effect from January 1, 2016,” the statement read.

However, the NLC in a statement issued on Tuesday in Abuja, by its General Secretary, Dr Peter Ozo – Eson, said speculations on the commodity by the federal government were designed to confuse Nigerians.

Ozo-Eson restated that the directive to all state councils and industrial unions to commence the process of mobilization prior to a meeting of the National Executive Committee to be convened in the New Year still stands.

NLC noted that: “In the past few weeks, we have heard discordant tunes from government officials and chieftains of the ruling APC on what the future portends for the prices of petroleum products and the management of the subsidy scheme.

“The Honourable Minister of State for Petroleum first announced that come next year the price of petrol will revert to N97 per litre and that subsidy will be phased out. Two days, thereafter, he denied this and stated that what he said was that the price will operate within a band of N87 to N97 and that this did not mean removing the subsidy.

“The same minister now says that the price of petrol will now be N85 in January signifying the deregulation of the sector.
“These vacillations and flip flops are, in our view, designed to confuse Nigerians and pave the way for deregulation of petrol prices through the back door.

“The fact of the matter is that as long as we continue to depend on imported refined products, deregulation and the abandonment of a subsidy scheme will unleash hardship on Nigerians. In any case, according to our laws, the determination of the recommended prices of petroleum products is the responsibility of the Petroleum Products Prices Regulatory Agency (PPPRA).”

“By law, the board of PPPRA is made up of stakeholders. None of the contradictory prices the minister is throwing up is a product of the agency. Indeed, the board of the PPPRA has not operated for over two years although we have made repeated demands for the convening of the board.

“We call on the government to be guided by the rule of law and constitute and convene the board of PPPRA in accordance with the law without further delay. This will enable the agency to examine and agree a new pricing template based on the realities of today. Any price unilaterally determined and announced by the minister is in violation of the law,” Ozo-Eson said in the statement.

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