The Federal government has been told to fix the country’s refineries and cut oil import before it can increase fuel price or align it with international oil price.
This comes as the government and the Nigerian Labour Congress (NLC) failed to agree on price for fuel.
The Deputy President of NLC, Mr. Joe Ajaero, said that is the only condition that must be met for labour to accept any price increase, adding that there is no going back on the requirement, no matter how long it will take to repair the refineries.
President Muhammadu Buhari has already approved $1.5 billion for the rehabilitation of Port Harcourt refinery, a decision that was heavily criticised by Nigerians including Atedo Peterside, the founder of Stanbic IBTC.
The proposed repair is expected to take over one year, and Ajaero said they are willing to hold on until then. He said while the government is consulting with its stakeholders, NLC has no pending discussion with FG as it has already tendered its requirements.
The Nigerian National Petroleum Corporation (NNPC) had also stated that it is not increasing the fuel price until an agreement has been reached with the labour body. But Ajaero said there’s no agreement to meet, just requirements.