The Senate has endorsed the Federal Government’s decision to peg the pump price of petrol at N145 per litre.
After an Executive Session, presided by Deputy President of the Senate, Ike Ekweremadu, on Tuesday, the Senate called on the government to parley labour unions to forestall the threatened strike.
Senator Ekweremadu said that members of the red chamber sympathised with Nigerians for the hardship which the new prices of petrol will cause and called on the government to implement the palliatives.
According to Ikweremadu, “The Senate in a closed session deliberated on the increase in the pump price of PMS by the Federal Government and the threats by the organised Labour to embark on a nationwide strike.
“We resolved as follows: that we sympathise with ordinary people of Nigeria on the hardships they are going through.
“That the Senate will engage the Federal Government to find sustainable ways of improving the welfare of the people of Nigeria.
“That we call on government to continue to engage the organised labour and other stakeholders to resolve issues in order not to ground the system and impose more hardships on our people.
“That government should immediately start implementing palliative measures contained in the 2016 Appropriation Act passed by the National Assembly,” he said.
Last week, the Federal Government announced the removal of subsidy from petrol and pegged the price at not more than N145 per litre.
Various labour unions in the country have threatened to embark on a national strike by Wednesday if government fails to revert to N86.5 per litre
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.