A Review of the Nigerian Energy Industry

TUC demands reduction in pump prices of fuel

05 January 2015, Lagos – The Trade Union Congress of Nigeria, TUC, yesterday in Lagos, expressed shock that the Federal Government was yet to effect a drastic reduction in the pump price of fuel in line with falling crude price in the international market.

In a statement to welcome Nigerian workers to the New Year, TUC’s President, Mr. Bobboi Kaigama, called on government to immediately reduce the pump prices of petroleum products to ameliorate the suffering of the Nigerian masses.

Fuel-pump-360x270According to the statement, “on the recent drop in the price of crude, account has it that following the unexpected drop in the prices of crude, government is planning to employ some austerity measures to cushion the effect on the economy.

“The labour movement and some fore-sighted well-meaning Nigerians had for several times called on government to make utmost use of the excess dollar we got by diversifying the economy to no avail. Unfortunately, our politicians are only interested in rushing down to Abuja for monthly allocation.

“Yes, our economy has just been rated the biggest economy in Africa. How do we agree with that when in practical terms when the lending rates, cost of living and doing business are unreasonably high?

“Additionally, the hasty and deliberate devaluation of the naira which has also brought untold hardship to the real sector and all other facets of the economy have to be addressed as congress will not tolerate cases of job losses arising from government’s insensitivity.

“It becomes pertinent to warn against such move now to avoid worsening the spate of insecurity in the country today, which was occasioned by the gross mismanagement of the economy. No wonder, unemployment figures remain high; unimaginable crime rates, poverty, epileptic energy sector and inexplicable high tariff have become our lot.


– Vanguard

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