Organised Labour, has called on President Muhammadu Buhari to further reduce the pump price of Premium Motor Spirit (PMS), also known as petrol, to N60.
President of the United Labour Congress of Nigeria (ULC), Joe Ajaero, made the call while addressing the media as part of activities to mark the International Workers’ Day on Friday.
Ajaero also requested that an investment of 20 percent of the entire donations received by the government from individuals, groups, and organisations to help combat the Coronavirus pandemic, should be used to fund the activities of various research institutes across the nation.
He pointed out that the present prices are a rip-off of the people and indeed not justified by any known market parameters.
“Again, the ULC demands that the price of PMS, AGO, and DPK be reviewed drastically downwards. We should not be paying anything more than N60/litre of PMS and the federal government should allow this reflected at the pumps to stop this gang-up against the masses.
“It a shame that Nigeria has continued importing petroleum products, while the products have become inaccessible to the majority of the citizens thus causing serious distortions to the nation’s economy,” he said.
According to him, it is now obvious that the government has failed to live up to its electoral promises of reviving and building new refineries.
The labour leader noted that the country spends nearly 50 percent of foreign exchange received on financing the purchase of refined petroleum products.
Ajaero said this has made it difficult for the country to benefit even when the price of oil was up in the international market.