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The All Progressives Congress and the Trade Union Congress have called on the Federal Government to reduce the pump prices of petroleum products in view of the crash in the prices of crude oil in the international market.

In a statement signed by the Director of Publicity and Strategy of the party in Oyo State, Mr. Wale Sadare, it said, the APC recalled that President Goodluck Jonathan and his economic management team arrived at N97 per litre of petrol in 2012 following skyrocketing prices of crude oil in the global market.

It said, The oil price has fallen by 49 per cent from 2013 and the Jonathan administration still claimed it spent a whooping N971bn on its subsidy payment in 2014. Does it mean that Nigeria has been buying refined petroleum products at the same rate from nations with functional refineries despite the crash in crude oil prices?

How come Ghana was able to implement a 13 per cent reduction in the prices of same products in its local market?

The TUC also in a statement on Sunday signed by its President, Mr. Bala Kaigama, and Secretary General, Mr. Musa Lawal, said there was no justification for the government to retain the current pump price of petrol at N97 per litre.

It recalled that the Federal Government had cited the issue of the oil prices in the international market as one of the main reasons for increasing the pump price of petroleum products in 2012.

It urged the relevant agencies to review the prices of petroleum products in order to reduce the hardships imposed on the people as a result of the falling oil prices.

The TUC also said that it had asked the Federal Government to increase the salaries of workers to reduce the adverse effects of the devaluation of the naira on them.

It said, The congress expresses concern that the government has refused to reduce the prices of petroleum products even though the price of crude has collapsed in the international market, which was the reason given when it wanted to increase the price of fuel in 2012.

We urge the government to direct the appropriate agencies to immediately adjust the prices of petroleum products as it will ameliorate the sufferings of the Nigerian masses. We have put the government on notice that following the devaluation (of the naira) we are going to ask for wage increase to cushion its effect on the workers.

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APC, TUC demand reduction in fuel price