The Nigeria Labour Congress (NLC) on Thursday rejected the new fuel price announced by the Petroleum Products Price Regulatory Agency (PPPRA) on Wednesday.
The labour movement through its president, Ayuba Wabba, asked the federal government to immediately return to the old fuel price of N121.50 per litre.
The NLC was reacting to the announcement in Abuja by the Executive Secretary of the PPPRA, Saidu Abdulkadir, of a new “retail price band advisory” of N140.80 and N143.80 per litre for petrol for the month of July 2020.
Mr Abdulkadir said the new price band replaces a similar band of N121.50 and N123.50 per litre announced by the agency for last month.
He said the price advisory was arrived at after a review of the prevailing crude oil market fundamentals for June, “taking into consideration the realistic operating costs by petroleum products marketers.”