According to the TUC, until the government provides convincing criteria and associated economic palliatives that would cushion the effect of the inevitable transportation crisis, they would not agree to it.
The Union reports that marketers in the country have already distanced themselves from the proposed price hike. They opine that it is at variance with prevailing market forces which currently compels
price reduction across global petroleum products market.
TUC President, Comrade Bobboi Kaigama who expressed his anger at the decision to hike fuel prices at a time of economic hardship in the country, also faulted the decision accusing the federal government of not using market forces as parameters for taking market price decisions.
He also accused the government of throwing up price hike as basis for deregulation of the market without consultation with stakeholders across board.
He accused the government of taken price adjustments in the domestic fuel market as a fund raising strategy to generate funds to finance his programmes and policies, accusing the president of coming to power without any credible plan to fund its agenda and has now resorted to imposing indirect fuel tax on Nigerians through pump price manipulation.
He advised the government to take a cue from the immediate past administration of Goodluck Jonathan, which, he said, consulted widely on the use of fuel price savings for infrastructural development under SURE-P where, he stated that all stakeholders are represented in the management of the fund.
The union leader advised that all the import associated costs built on the pump price of fuel in the countr could be eliminated by fixing the nation’s downstream and midstream sections of the petroleum industry.
Recall that the federal government on Monday, December 14, said it would begin a gradual withdrawal of fuel subsidy next year.
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