The current price of petrol may be reviewed downward following a meeting between the federal government and the organised labour

NNPC boss, Kyari, requested for a week to engage in consultations with stakeholders before acceding to the demands of the labour leaders

The organised labour is asking the FG to reverse the new price of petrol, saying it is against a previous agreement it had with the government

The federal government has asked the organised labour for a week break to consult stakeholders for a possible reversal of the new petrol price.

The Nation reports that the Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Mele Kyari, made the request at the meeting with the leadership of the organised labour in Abuja on Thursday, November 26.

Kyari explained that the NNPC couldn’t unilaterally announce a reversal of the new price without consultation

FG meets labour, asks for one week to review new petrol price. It was, therefore, agreed by both the labour and the government team led by the Secretary to the Government of the Federation (SGF), Boss Mustapha that the meeting should be adjourned and should resume on Monday, December 7.

Labour had asked the government to reverse the recent fuel price increase, saying the increase negates the agreement reached in September.

Naijakit notes that the petrol price has been increased about four times in 2020 after deregulation became effective. It had risen from N121.50–N123.50 per litre in June and N140.80-N143.80 in July and N148-N150 in August. The product currently sells between N168 and N170per litre.