Latest Petrol Price Hike News, Update On Fuel Scarcity For Oct. 17th, 2024

Nigerians are grappling with the recent fuel price increase by the Nigerian National Petroleum Company (NNPC) Limited. In response, organized labour, comprising the Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC), held a joint National Executive Council (NEC) meeting at Labour House, Abuja.

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The meeting followed a discussion between labour leaders and the Federal Government regarding petrol prices. Attendees included NLC President Comrade Joe Ajaero, Deputy President Kabiru Ado Sani, General Secretary Comrade Emma Ugboaja, TUC Deputy President Dr. Tommy Etim Okon and Secretary General Nuhu Toro.

Government representatives at the meeting were Mallam Nuhu Ribadu (National Security Adviser), Nkeiruka Onyejeocha (Labour Minister), Wale Edun (Minister of Finance and Coordinating Minister of the Economy), Alhaji Mohammed Idris (Information Minister), Heineken Lokpobiri (Petroleum Minister, State) and Ekperikpe Ekpo (Minister of State for Petroleum Resources, Gas).

The joint meeting aimed to address the fallout of the fuel price hike, minimum wage and consequential adjustment, Compressed Natural Gas vehicles and fueling points. This development comes amid growing public concerns over inflation and the increasing cost of living.

The Bola Ahmed Tinubu-led administration met with NLC and TUC leaders on Wednesday to discuss the petrol price increase and its national impact. The Presidential Villa meeting sought to alleviate concerns regarding the recent fuel price hike.

Key issues on the agenda included the decentralization of power generation, transmission and distribution, regional power grids and investment in the power sector. The government emphasized its commitment to cushioning the effects of subsidy removal on citizens.

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