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MAN, NLC, TUC, others laud fuel price slash, urge monitoring

By NAN   |   19 January 2015   |   12:45 pm  

FOLLOWING Sunday’s downward review of fuel price from N97 to N87 by the Federal Government,  Manufacturers’ Association of Nigeria (MAN), Ogun State Chapter, on Monday commended the move.

Its president, Mr Wale Adegbite, gave the commendation in an interview with the News Agency of Nigeria (NAN) in Ota.

“The reduction in the price of petrol would make Nigerians to have more money in their pockets to spend on goods and services.

“They will spend less in fuelling their cars and generators,“ Adegbite said.

Also, the Independent Petroleum Marketers Association of Nigeria (IPMAN) towed same line.

The association’s National President, Mr Chinedu Okoronkwo, told the News Agency of Nigeria (NAN) in Lagos that the reduction would go a long way in cushioning the economic challenges faced by Nigerians.

“It was a right decision taken by the Federal Government.

“It is a fruitful decision, it will go a long way in addressing the agitation of the people but there should be a holistic approach towards passing the Petroleum Industry Bill (PIB).

“Federal Government has been steering the oil and gas industry in the right direction.

“This has shown that government has great concern about the people,’’ he said.

 But Seyi Ganbo, a former National Public Relations Officer of the Petroleum, Natural Gas Senior Staff Association of Nigeria (PENGASSAN), sees  the reduction as “a two edged sword.”

He said the pump price reduction was in tandem with the public outcry following the persistent fall of crude oil price in international market and the attendant low-landing price of refined petroleum products.

 The Nigeria Labour Congress (NLC) and some drivers and commuters in Enugu State also commended the slash.

They told the News Agency of Nigeria (NAN) in Enugu that the pump price reduction would make life easier for Nigerians.

The state’s Chairman of NLC, Chief Chumaife Nze, described the development as a good response to the yearnings of Nigerians.

According to him, the pump price reduction is necessary following the dwindling price of crude oil at the international market.

“The government is sensitive to the plight of the people, so, it will go a long way to alleviate the suffering of the masses.

“We hope that as other situations change, the government will be responsive and change accordingly. What is paramount is the way forward in this country,’’ he said.

 A commercial bus driver, Mr Ndubuisi Igbokwe, however, regretted that some petrol stations were not responding to the government’s directive as most of them still sold at N110 and N97 respectively.

Igbokwe also appealed to relevant agencies saddled with the responsibility of ensuring compliance to petroleum laws to do so in the interest of the poor masses.

 Also on Monday, the Chairman, Trade Union Congress, Rivers Council, Mr Chika Onuegbu, welcomed the move.

Onuegbu told the News Agency of Nigeria (NAN) in Port Harcourt that “the measures taken by government in adjusting the pump price of fuel downward by N10 are commendable.It shows that government is listening to the people and I think it is a welcome development and we are happy about it,’’ he said.

Onuegbu said the main task before government now was the enforcement of the directive.

“I think the challenge now is with the enforcement of the directive.

“Some of the marketers may not be willing to immediately adjust to the new price.

“So, it is important that all government agencies that are in the petroleum industry should monitor and ensure that marketers adjust to the new fuel pump price,’’ he said.

The unionist said that TUC had been calling on the Federal Government to reduce the pump price of fuel in line with the falling international oil price.

“Initially, some government officials had argued that even if oil price was falling, that Naira will be devalued.

“But we made our case to show that the rate of devaluation is not the same as the rate of the fall in oil price,’’ he said.



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