Nigeria, an oil-rich country in West Africa, is experiencing petrol shortage. This situation has been on for long now.
While the official price for the product is between 180 and 185 Naira per litre, some Nigerians have purchased petrol for 350 Naira per litre.
The scarcity started around October. Since then, Nigerians are hoping that petrol will be made available as soon as possible to reduce the cost of getting it
Amidst the scarcity, the NNPC has claimed to have a sufficient supply of Premium Motor Spirit (PMS), better known as petrol.
The company which imports petrol to Nigeria because the nation’s refineries are not able to meet the supply. says it has enough to last Nigerians from the middle of February till the beginning of March.
Yet you will find queue in various fuel stations.
This situation has had multiplier effect on different sectors of the economy, with price of transportation on the high side.
The Nigeria Labour Congress (NLC) has given the federal government a seven-day deadline to end the fuel and Naira crises or it will mobilise for a large-scale protest.
Joe Ajaero, the president of the NLC, made this demand in a statement issued in Abuja.
His statement came after a meeting of the congress’ Central Working Committee.
According to Ajaero, Nigerians, particularly workers, had reached breaking point and were unable to remain silent.
According to him, it is truly challenging for Nigerian employees to access their hard-earned money in banks.
Also eh expressed displeasure that Nigerians are wondering why banks are unable to give them the money they were instructed to deposit into the bank.
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NLC Threaten Federal Government
On the issue of cash scarcity, he stated that “the NLC is giving the Federal Government, the Central Bank of Nigeria, and other banking institutions seven working days to remedy the cash constraint situation.
“If they fail to do this at the end of the seven days, the congress will order all workers in the nation to remain at home because it has become extremely difficult to access money to enter automobiles to get to their places of employment.
“The Congress wants to let the federal government know that we won’t be silent any longer on the subject of ongoing fuel shortages and arbitrary price hikes for petroleum”.
