Organised Labour, has asked President Muhammadu Buhari to further reduce the pump price of Premium Motor Spirit, PMS, otherwise known as petrol, to N60.
Labour said Nigerians should not pay more than N60 for a litre of petrol.
Organised labour also asked that an investment of 20 per cent of the entire donations received by the government from individuals, groups and organizations to help combat the Coronavirus pandemic, should be used to fund the activities of various research institutes across the nation.
President of the United Labour Congress of Nigeria (ULC), Joe Ajaero, gave the advice when he addressed the media as part of activities to mark the International Workers’ Day on Friday.
He pointed out that the present prices are a rip-off of the people and indeed not justified by any known market parameters.
“Again, the ULC demands that the price of PMS, AGO and DPK be reviewed drastically downwards. We should not be paying anything more than N60/litre of PMS and the federal government should allow this reflected at the pumps to stop this gang-up against the masses.
“It a shame that Nigeria has continued importing petroleum products, while the products have become inaccessible to the majority of the citizens thus causing serious distortions to the nation’s economy,” he said.
According to him, it is now obvious that the government has failed to live up to its electoral promises of reviving and building new refineries.
The labour leader noted that the country spends nearly 50 percent of foreign exchange received on financing the purchase of refined petroleum products.
Ajaero said this has made it difficult for the country to benefit even when the price of oil was up in the international market.