Livenews.ng
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Health
  • Entertainment
  • Sports
  • Business
  • Politics
  • Education
  • Technology
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Health
  • Entertainment
  • Sports
  • Business
  • Politics
  • Education
  • Technology
No Result
View All Result
Livenews.ng
No Result
View All Result
Home Business

BREAKING: Federal government to review petrol price

by Matthew Ope
November 27, 2020
in Business, Nigeria
BREAKING: Federal government to review petrol price

BREAKING: Federal government to review petrol price

The Federal Government of Nigeria has requested for a week break from discussion with organized labour to consult on the new petrol price increase to be reviewed.

Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mele Kyari made the request at Thursday’s meeting with the leadership of organized labour at the Banquet Hall of the Presidential Villa, Abuja, Thursday.

READ ALSO: IPMAN kicks against increase in petrol price

Kyari told the meeting that the cooperation couldn’t unilaterally announce a reversal of the new price without consultation.

It was agreed by both the labour and government team led by the Secretary to the Government of the Federation, SGF, Boss Mustapha that the meeting should be adjourned and should resume on December 7.

Labour has asked the government to reverse the recent fuel price increase, saying the increase negates the agreement reached in September.

Petrol price has increased by about four times in 2020. It had risen from N121.50–N123.50 per litre in June and N140.80-N143.80 in July and N148-N150 in August.

The product presently sells between N165 and N168 per litre after the Petroleum Products Marketing Company, a subsidiary of the Federal Government-owned NNPC, increased the ex-depot price of petrol from N147.67 per litre to N155.17 per litre for this month.

Minister of Labour and Employment, Chris Ngige at the end of the meeting which lasted for more than three hours, told reporters that the federal government team will relay the position of labour to President Muhammadu Buhari who is the Minister of Petroleum, and also to the Economic Management team because funds are involved.

Ngige said: “By Monday, December 7, we will come back, because the message from the organized labour is clear. They want a reversal of the pump price to what it was. So, the government side will take it back to our principals.

“Even though the government is not fixing the price of premium motor spirit (PMS) anymore because it is deregulated, it is part of the economy. So, the government side will consult anybody that needs to be consulted.

“We will consult the President as the Minister of Petroleum and then, the Economic Management team because funds are involved.”

Deputy President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, said that it was believed that when the parties will resume negotiation on December 7, the reversal must have been affected.

“We took one-week adjournment for them to reverse it (fuel increment) for us to begin discussions because the GMD (Group Managing Director) was saying that he can’t just announce it there, that he needs to do consultations.
“Exactly one week will be next week Friday so the following Monday we will reconvene by 5 pm. We insisted on 2 pm, the Minister said 7 pm but we eventually agreed by 5 pm.

“We insisted on reversal for any other talk to place although we have agreed to brief our organs, the NLC NAC is meeting today (Friday) so we are briefing our NAC, we may have to delay other organs after that Monday if they didn’t announce it.

READ ALSO: Petrol price may reduce this month, says marketers

“That’s why we said we don’t need to be shouting strike, we need to put our house in order,” Ajaero, who doubles as the General- Secretary of National Union of Electricity Employees said.

Earlier, President of the Trade Union Congress (TUC), Quari Olaleye told reporters that the organized labour wants the government to reverse the last fuel price increase, which occurred while the two sides were already on the negotiation table.

Olaleye called for sincerity for the negotiations to progress smoothly.

Before the Thursday night dialogue went behind-closed-doors, the TUC President warned the government’s delegation to be sincere with the deliberations to avoid further embarrassment and another deadlocked meeting.

He said: “It will be beneficial when we can agree and disagree constructively on some of the things we have on the table, and have a clear communication even which a layman will understand where we are going.

“We don’t want this meeting of going front and back every time that is so confusing that we don’t even understand what we are discussing, we must be leaving here today with an agreement.”

Labour had accused the government of insincerity in its meeting last Sunday, leading to a walkout.

In his remarks, the SGF commended organized labour for putting the nation first.

He praised the labour leaders for working very hard to see that the welfare of their members and the Nigerian people was catered for.

Mustapha assured the organized labour of the government’s preparedness to work hand in hand with them to ensure that resolutions were reached at the meeting on any issue that borders on the welfare of Nigerians.

He expressed the belief that negotiations would be done in the overreaching interest of the people of Nigeria as the centerpiece.
The SGF thanked the organized labour for their display of patriotism when they went for their last recess at the request of the labour leadership.

He said whatever went out from the last meeting; the government side maintained in their reportage that there was no breakdown of talks between the government and labour.

The SGF said he believed that all the parties must have consulted sufficiently before coming back for them to reach certain conclusions on the issues being discussed that will further advance the cause and the good of Nigerians.

He thanked the labour for returning to the negotiation table and wished the meeting a short and fruitful discussion.

Thursday’s meeting was attended by Minister of Humanitarian Affairs and Disaster Management, Hajia Sadiya Farouk; Minister of State, Labour and Employment, Festus Keyamo; Minister of State (Power), Jeddy Agba and Minister of State (Petroleum), Timipriye Sylva.

Others are GMD of NNPC, Mele Kyari; Chairman/CEO, National Electricity Regulatory Commission (NERC), Prof. James Momoh, and representative of Central Bank of Nigeria (CBN).

Join us for live updates on:

Whatsapp | Twitter | Facebook | Instagram 

Tags: Mele KyariNNPCPetrol
Next Post
Police arrest most wanted notorious kidnapper, pirate in Rivers

Police arrest most wanted notorious kidnapper, pirate in Rivers

#LekkiMassacre: CNN Unsettled by our protest letter - FG

#LekkiMassacre: CNN Unsettled by our protest letter - FG

ASUU agrees to call off strike

ASUU agrees to call off strike

Recommended

Senate Directs NDDC IMC to Refund N4.923bn

Senate Directs NDDC IMC to Refund N4.923bn

9 months ago
Attorney General approves fraud investigation over US election

Attorney General approves fraud investigation over US election

5 months ago
COVID-19: Australia Expands Wage Subsidy Scheme

COVID-19: Australia Expands Wage Subsidy Scheme

9 months ago
Messi release clause not valid - Jorge Messi

Messi release clause not valid – Jorge Messi

8 months ago

Recent News

2weird – Letter to Small Slekky In Heaven EP
Entertainment

2Weird releases, ‘Letter to Small Slekky In Heaven EP’

by Adewunmi Kay
April 15, 2021
0

Onitsha-born artiste, Azubike Jerome Anieka known as 2weird has released a brand new project titled Letter to Small Slekky In...

CBN places ban on Cryptocurrencies trading.

CBN places ban on Cryptocurrencies trading.

February 5, 2021
US President, Joe Biden lifts Travel Ban on Muslim & African countries.

US President, Joe Biden lifts Travel Ban on Muslim & African countries.

January 21, 2021
COVID-19: Reps Oppose School Resumption.

COVID-19: Reps Oppose School Resumption.

January 17, 2021
Former minister of commerce, Jubril Martins-Kuye dies at 78

Former minister of commerce, Jubril Martins-Kuye dies at 78

January 17, 2021
Donald Trump Impeached For Inciting US Capitol Riot.

Donald Trump Impeached For Inciting US Capitol Riot.

January 14, 2021

Highlights

COVID-19: Reps Oppose School Resumption.

Former minister of commerce, Jubril Martins-Kuye dies at 78

Donald Trump Impeached For Inciting US Capitol Riot.

Commercial drivers protest, leave passengers stranded in Lagos.

BVN generated NIN must be verified to access NIMC mobile app

Nancy Pelosi takes further steps to remove Trump

Trending

  • Secondary school students caught on camera having group sex

    Secondary school students caught on camera having group sex

    0 shares
    Share 0 Tweet 0
  • Jungle justice: Two Boys allegedly Burnt Alive after Being Accused of Stealing

    0 shares
    Share 0 Tweet 0
  • BBNaija 2020: Nengi caught in the act again.

    0 shares
    Share 0 Tweet 0
  • BBNaija: What Davido, Mayorkun said to Laycon after winning the reality show

    0 shares
    Share 0 Tweet 0
  • BBNaija: Tolanibaj masturbate in the house last night- Watch video

    0 shares
    Share 0 Tweet 0
  • “I don’t want to see you in my house” – Niniola warns Teni

    0 shares
    Share 0 Tweet 0
  • 75-year-old woman pours pepper into 11-year-old girl private parts and eyes

    0 shares
    Share 0 Tweet 0
  • Police Arrests Actress Akuapem Poloo For Going Naked With Her Son On His Birthday

    0 shares
    Share 0 Tweet 0
  • 2Weird releases, ‘Letter to Small Slekky In Heaven EP’

    0 shares
    Share 0 Tweet 0
  • Mo Bimpe, Lateef Adedimeji confuse fans with another Engagement photos

    0 shares
    Share 0 Tweet 0
Livenews.ng

Live News Nigeria is an online newspaper platform for dissemination of happenings around us and useful information.

Recent News

  • 2Weird releases, ‘Letter to Small Slekky In Heaven EP’ April 15, 2021
  • CBN places ban on Cryptocurrencies trading. February 5, 2021
  • US President, Joe Biden lifts Travel Ban on Muslim & African countries. January 21, 2021

Pages

  • About Us
  • Contact Us
  • Home
  • Privacy Policy
  • Terms and Condition

© 2020 LiveNews Nigeria - All rights belong to their respective owners.

No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Health
  • Entertainment
  • Sports
  • Business
  • Politics
  • Education
  • Technology

© 2020 LiveNews Nigeria

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