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Between Labour and the opposition to deregulation

Vanguard News Between Labour and the opposition to deregulation On L ast week, the price of crude oil rallied to $66 per barrel, the highest in 13 months.   This was after oil price sank to sub-zero level in the wake of the COVID-19 pandemic in 2020. Ordinarily, for a country like Nigeria that is heavily dependent on revenues from oil, the price rally ought to be good news as it portends more money for the government to provide social amenities for the welfare of the citizens. But the cheery news of oil price rally is dampened by the prospect of a rise in the pump price of petrol. In March 2020, the Federal Government finally took the bull by the horns and deregulated the downstream by taking advantage of the low oil prices induced by the COVID-19 pandemic.

Don t Halt Deregulation Of Petrol, CSOs Tell FG

Spread the love A Coalition of Nigerian Civil Society Organizations for Petroleum and Energy Security (CONCSOPES) on Saturday sought the sustenance of  deregulation of the price of the Premium Motor Spirit (PMS).  Speaking in a press conference in Abuja, the convener, Mr. Timothy Ademola, noted that a reversal of the deregulation that started in March 2020 will lead to scarcity of the product. Besides, he said it will lead the Nigerian National Petroleum Corporation (NNPC) to negative financial records. According to him, “With the agitation of labour for the roll back of deregulation, NNPC will inadvertently have to absorb the cost of the price differential between landing cost and pump price.

Between Labour and the Opposition to Deregulation, By Tayo Olu

Between Labour and the Opposition to Deregulation, By Tayo Olu
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