The Nigeria Employers Consultative Association (NECA) has condemned the recent increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, by the Nigerian National Petroleum Company Limited (NNPCL).
NECA characterized this situation as Nigerians suffering due to the inefficiencies of NNPCL.
In a statement released on Tuesday in Abuja, NECA’s Director General, Adewale-Smatt Oyerinde, expressed concern over the new fuel price set at N855 per litre at NNPCL retail outlets.
Oyerinde described the price hike as not only troubling but also unjust. He stated, “We had anticipated that the government would capitalize on the momentum from the completion of the Dangote refinery and the upcoming operations of the Port-Harcourt refinery to alleviate the self-inflicted hardships on Nigerians and gradually lower petrol prices. Unfortunately, this has not occurred.”
He added, “This new price increase appears to force Nigerians to bear the consequences of NNPCL’s gross inefficiency.”
Oyerinde further criticized the government for failing to address the underlying issues that have kept Nigeria reliant on petrol imports, despite having four refineries. He noted that the government’s actions are exacerbating the challenges faced by businesses in the country.
He urged the government to reassess its strategy and implement necessary measures to combat the ongoing economic struggles of Nigerians and support organized businesses.
This announcement coincides with the Dangote Refinery’s official launch of its Premium Motor Spirit (petrol). Aliko Dangote, President of the Dangote Group, indicated that the petrol price would be determined by the Federal Executive Council.
