//PROTEST OVER RECENT FUEL PRICE INCREMENT

PROTEST OVER RECENT FUEL PRICE INCREMENT

A coalition of civil societies in Osun State has made good its threat to protest the recent fuel price increment and electricity tariff hike.
Residents of Osogbo, the Osun State capital woke up this morning to see that protesters have blocked major streets of the city over fuel price and electricity tariff hike
Reports say, the placard carrying protesters assembled at the popular Nelson Mandela Freedom Park from where they marched to other parts of the capital city.

ALSO,
The Nigeria Labour Congress (NLC) has threatened to embark on industrial strike action, if federal government refuse to review the hike in PMS price.

The President of the NLC, Comrade Ayuba Wabba, while speaking with journalists at Abuja, expressed dissatisfaction over the hike in fuel price, stating that the labour movement was shocked at the development.

Meanwhile,
The Minister of Petroleum Resources (State), Mr Timipre Sylva says the deregulation of the petroleum sub-sector will be difficult for a while but pay off on the long run.

Sylva during a briefing on Thursday in Abuja , said federal government could no longer controls the price of the product as it spends over trillion Naira yearly as subsidy payment.

He further stated that the high cost forced the government to allow market forces to determine the prices of the product.

Sylva however noted that the Federal Government is not working on policy to cushion the effect of the deregulation, but, it is introducing alternatives to petrol.