Petrol is Now N97 per litre-Labour suspends street protests but strike continues

•Jonathan directs PPPRA to reduce price after talks •Labour suspends street protests but strike continues

Petrol price was this morning fixed at N97 per litre by the Federal Government.
President Goodluck Jonathan announced the price in a national broadcast


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“Given the hardships being suffered by Nigerians and after due consideration and consultations with state governors and the leadership of the National Assembly, government has approved the reduction of the pump price of petrol to N97 per litre.



“The Petroleum Products Pricing Regulatory Agency (PPPRA) has been directed to ensure compliance with this new pump price,” the President said.
He added that “government will continue to pursue full deregulation of the downstream petroleum sector.”
The President said the government appreciated that the implementation of the deregulation policy would cause initial hardships. He commended Nigerians “who have put forth suggestions and credible alternatives in this regard.”
Jonathan also saluted “Nigerians who by and large, conducted themselves peacefully while expressing their grievances.”
He said the government would continue to respect the people’s right to express themselves “within the confines of the law and in accordance with the dictates of our democratic space.”
He promised to reduce the government’s recurrent expenditure, in line with current realities and to cut down on the cost of governance. Besides, there will be more transparency in the oil sector and corruption will be fought.
The President urged Nigerians “to show understanding for the imperatives of the adjustment in the pump price of petrol and give government your full support to ensure its successful implementation. I further appeal to Nigerians to go back to work and go about their normal duties as government has made adequate arrangements for the protection of life and property throughout the federation.”
He warned that the government would “not condone brazen acts of criminality and subversion. As President, I have sworn to uphold the unity, peace and order of the Nigerian State and by the grace of God, I intend to fully and effectively discharge that responsibility.”
He expressed govern-ment’s desire for further engagements with Labour and called on Labour leaders “to call off their strike, and go back to work.”
But Labour leaders rose from a meeting at about 1a.m. saying street protests should be suspended, but the strike should go on.
Nigeria Labour Congress (NLC) President Abdulwaheed Omar said:
“Labour has suspended street protests due to the security challenge involved. The strike will continue.
“Labour has accepted to work with the Alfa Belgore Committee set up by the government to negotiate a new price for petrol within the next three days.
The NLC president added that the government had accepted to suspend full deregulation of the downstream sector of the oil industry pending when all issues are resolved.”