Nigeria Labour Congress and Civil Society Organisations have called for further reduction in the pump price of Premium Motor Spirit (petrol).
Speaking with newsmen in Abuja,a senior official of the Nigeria Labour Congress, Mr. Chris Onyeka, rejected any applause for the Federal Government and the Nigerian National Petroleum Company Limited over the recent reduction in the pump price of petrol.
Mr. Onyeka emphasized that the recent drop in price to N935/litre is not satisfactory.
He argued that the current pricing mechanism does not reflect the true cost of the commodity.
The Unionist explained that that the costs embedded in the current pricing framework including foreign labour, freight charges, insurance, logistics, and profits accrued abroad unfairly burden Nigerians.
He noted that the only way to ascertain the correct price of PMS is by determining the actual cost of refining it domestically.
Mr Onyeka called on the government to prioritize the welfare of Nigerians by ensuring that fuel pricing aligns with local realities.
