Human Rights Lawyer, Femi Falana has described the decision of the Nigerian National Petroleum Company Limited (NNPCL) to increase pump price of Premium Motor Spirit (PMS), more commonly known as petrol as illegal.
He was speaking on the sideline of an emergency meeting of the Nigeria Labour Congress (NLC) National Executive Council in Abuja.
Falana said NNPCL has a limited liability company does not have any legal power to jack up the price of petroleum.
He urged the federal government to go back to the drawing board with a view to finding alternative solution to the problem, one of which he says includes the need to address the dollarization of Nigeria’s economy.
Falana also said Nigerians will challenge the decision, adding, however, that the solution to the fuel problem will be both legal and political.
NewsClick Nigeria reports that NNPCL on Wednesday acknowledged that it has modified pump pricing of the product nationwide.
The national oil firm claimed that the revised pump price was in line with “current market realities” in a statement released on Wednesday and signed by its Chief Corporate Communications Officer, Garba Deen Muhammad.
The statement read, “As we strive to provide you with the quality service for which we are known, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.
“We assure you that NNPC Limited is committed to ensuring a ceaseless supply of products.
“The company sincerely regrets any inconvenience this development may have caused.
“We greatly appreciate your continued patronage, support, and understanding during this time of change and growth.”
