Tag Archives: Price Hike

NUPENG, PENGASSAN oppose plan to hike price of fuel

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Petroleum workers yesterday kicked against the plan by government to increase the pump price of Premium Motor Spirit (PMS), otherwise known as petrol.

The National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) otherwise known as NUPENGASSAN, made this known yesterday in their position papers to the Chairman, Ad-Hoc House of Representatives Committee on the Review of Pump Price of Premium Motor Spirit.

NUPENGASSAN maintained: “This is not the right time to review the pricing template of PMS due to certain reasons.”

However, the Group Managing Director of the Nigeria National Petroleum Company (NNPC), Dr. Maikanti Kacalla Baru dismissed reports of any upward review of the price of petrol.

His counterpart at the Nigeria Petroleum Marketing Company (NPMC), Mr. Farouk Ahmed also spoke in the same vein, saying his outfit can no longer worsen the rate of the average Nigerian with a fuel price increase.

Both spoke yesterday before the same ad hoc committee in Abuja.

Baru, who was represented by NNPC’s chief Executive Officer, Downstream, Henry Ikem-Obih, faulted the notions that NNPC stopped supply of fuel to marketers since last week. He said the coastal price of the product to marketers still stood at N123 per litre.

Ahmed, who assured that his outfit would ensure availability of fuel through its retail outlets, remarked that there was nothing his outfit could do to reduce the price of kerosene and diesel since the prices of the products have been deregulated.

He blamed foreign exchange problems for the high cost of the products. The NPMC chief expressed optimism that the involvement of more marketers and repair of pipelines remains the solution to the shortage of the products across the country.

Data Price Hike An Act Of National Interest- Senate

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The Nigerian Communications Commission (NCC) has acted in national interest on the issue of data price increase, the Senate Committee on Communications has said.

The Committee, which visited the NCC headquarters in Abuja yesterday as part of it oversight functions, said Nigerians should see the commission as being on their side on the issue of data price increase.

Senator Solomon Olamilekan (Lagos West) who spoke on behalf of the Committee members said the NCC had taken some commendable steps to sanitize the telecom industry and the data price hike was one of them.

He said “Each time we invited the leadership of the agency to the National Assembly, they honoured our invitation and responded to our inquiries, particularly during the MTN issue, and of recent the data price floor. They have acted in national interests and Nigerians see NCC as being on their side.”

While receiving members of the Committee, the Commission’s Executive Vice Chairman, Professor Danbatta, said unless the issues regarding the data price floor are resolved, it remains a whirlwind that would not do anybody any good.

He said it is imperative that all stakeholders agreed on appropriate price floor on data for the good of the industry, noting that a proper cost-based study would be carried out shortly to determine price floor.

Credit: dailytrust