Nigerian President announces reduction of fuel price as labour unions call off strike

The Nigerian President Goodluck Jonathan.

Nigerian President announces reduction of fuel price as labour unions call of strike.
Lawan Hamidu, Ugo Okoro in Abuja

The Nigeria Labour Congress and the Trade Union Congress have called off the eight day nationwide strike called to protest the increase in the pump price of fuel by the Federal Government.

The NLC President Abdulwaheed Omar told a press conference in Abuja that the decision was taken after an extensive meeting in the early hours of Monday morning.

TUC leader Peter Esele however, said they were not part of the government's decision to lower fuel prices to 97 Naira saying it was a 'unilateral' decision. He thanked the Nigerian people for their support and added that they were not abandoning them.

He said the union was insisting on participation in the Justice Belgore committee to address burning issues surrounding the petroleum industry.

Esele said that even though the original price of 65 Naira per litre was not reverted to, the objective to reduce the price of petrol had been achieved.

President Jonathan's broadcast

Earlier on Monday, the Nigerian government approved a reduction of the pump price of petrol to ninety seven naira per litre from the one hundred and forty one naira announced on the 1st of January this year.

President Goodluck Jonathan announced the decision in a Nationwide Broadcast..

He said "Government will continue to pursue full deregulation of the downstream petroleum sector. However, given the hardships being suffered by Nigerians, and after due consideration and consultations with state governors and the leadership of the National Assembly, government has approved the reduction of the pump price of petrol to N97 per litre. The Petroleum Products Pricing Regulatory Agency (PPPRA) has been directed to ensure compliance with this new pump price."

He said that this followed due consideration and consultations with state governors and the leadership of the National Assembly as well as labour.

While expressing concern over the hardships being suffered by Nigerians, President Jonathan stressed that government would continue to pursue full deregulation of the downstream petroleum sector.

He said the legal and regulatory regime for the petroleum industry would be reviewed to address accountability issues and current lapses in the Industry.

The President also added that " Government is working hard to reduce recurrent expenditure in line with current realities and to cut down on the cost of governance. In the meantime, government has commenced the implementation of the Subsidy Reinvestment and Empowerment projects: including the Federal Government- assisted mass transit programme which is already in place, and job creation for the youth".

President Jonathan also urged Nigerians to show understanding of the adjustment and support government to ensure its successful implementation.

He added that government was working hard to address corruption within the industry, "Let me assure Nigerians that this administration is irrevocably committed to tackling corruption in the petroleum industry as well as other sectors of the economy. Consequently, all those found to have contributed one way or the other to the economic adversity of the country will be dealt with in accordance with the law."

President Jonathan also drew attention to the actions of some self styled activists, "It has become clear to government and all well-meaning Nigerians that other interests beyond the implementation of the deregulation policy have hijacked the protest. This has prevented an objective assessment and consideration of all the contending issues for which dialogue was initiated by government. These same interests seek to promote discord, anarchy, and insecurity to the detriment of public peace".

He appealed to Nigerians to go back to work and carry out their normal duties as government had made adequate arrangements for the protection of life and property throughout the federation.

Read full text of President Jonathan's speech >>>

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