National President of the Nigeria Labour Congress (NLC), Joe Ajaero, has urged the Federal Government to reveal the names of people and companies that collected fuel subsidies.
According to him, the Nigerian National Petroleum Corporation (NNPC), a private limited company cannot dictate fuel pump prices, hence, market forces as the reason for fuel pump price increase is invalid because there is only one participant in the sector.
Speaking in an interview with Arise Television on Sunday evening, Ajaero who emphasized the need for further details regarding the payment of fuel subsidies expressed the necessity of understanding the fuel subsidy situation in Nigeria and urged for transparency.
“We need to know who these subsidies were paid to and what the funds were used for. Can we have the names of the people and companies that collected these subsidies? We have agreed on some alternatives before now, why are those alternatives not working?” he queried.
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Comrade Ajaero also highlighted the absence of market forces if the Dangote Refinery remains the only producer of petroleum products in the country.
Questioning why the Port Harcourt, Warri, and Kaduna refineries were not active, he emphasized the importance of having multiple players in the sector to truly experience market forces in the downstream sector.
He also questioned the rationale of market forces determining fuel prices when there is only one participant, warning that if Dangote continues as the sole participant, fuel prices could reach as high as N1000 per liter by December.
Conclusively, the NLC President assured that there is no division in the decision to proceed with strike action on Wednesday, June 7, 2023.