MORE Fuel Scarcity Is Coming! Rush To Fuel Station, Buy Enough Petrol Now As NNPCL Makes Scary Announcement
The Nigerian National Petroleum Company Limited (NNPCL) has cautioned Nigerians to prepare for further fuel shortages, which could worsen the current challenges faced across the country. This warning was issued by Adedapo Segun, the Executive Vice President of NNPCL (Downstream), during a televised interview on Thursday.
Segun’ s statement comes shortly after a recent increase in fuel prices, which has already created widespread hardship in Nigeria. He emphasized the need for a perfectly competitive market, which he believes is essential to ensuring stable fuel prices and a steady supply of petroleum products. According to Segun, achieving such a market would help reduce the volatility in fuel prices and prevent further scarcity.
Meanwhile, the Trade Union Congress of Nigeria (TUC) has expressed strong opposition to the recent hike in the price of Premium Motor Spirit (PMS), commonly known as petrol. The union warned that the increased pump price would worsen poverty and could lead to social unrest.
In a statement released on Wednesday, TUC president Festus Osifo condemned the government’ s decision to raise fuel prices without consulting key stakeholders. He explained that this price increase, along with rising electricity costs, would place a heavier burden on Nigerian workers and their families, many of whom are already struggling with economic challenges.
” The sudden hike in fuel and electricity costs will only exacerbate these challenges, leading to further hardship and potential social unrest, ” TUC’ s statement read.
The price of petrol in Nigeria saw a steep increase on Tuesday, with the pump price rising to ₦897 and ₦855 per liter from ₦617. This sharp rise has further strained the finances of many Nigerians, particularly those in the lower- income bracket, who are most affected by the changes.
In response to the price hike, TUC called on the Nigerian government to reverse the decision immediately. The union urged the government to focus on policies that would strengthen the naira, Nigeria’ s currency, and take swift action to ease the suffering of the population.
The TUC emphasized that the sudden increase in prices was implemented without any discussion with key stakeholders, which they described as a clear disregard for the welfare of the Nigerian people, particularly workers. The union warned that if the government fails to reverse these decisions, it could lead to widespread unrest as citizens continue to grapple with high costs of living.
TUC’ s statement aligns with a similar call from the Nigeria Labour Congress (NLC), which has also demanded an immediate reversal of the petrol price hike. Both unions have expressed concern over the government’ s handling of the situation and its potential impact on Nigerians’ standard of living.
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TUC and NLC are urging the government to take quick steps to restore confidence in the system and prevent further deterioration in living conditions. They have both stressed the importance of implementing policies that will not only address the rising cost of fuel and electricity but also improve the overall economic situation in the country.
As fuel prices continue to rise, the risk of fuel scarcity looms large, and many Nigerians are bracing for tougher times ahead. The situation remains tense as both the unions and the public await a response from the government.
