A statement by the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to the effect that a continuous fall in the value of the naira will lead to increased petrol prices, raised speculations of an imminent increase in the price of the commodity. However, Special Adviser to the President on Media and Publicity, Ajuri Ngelale gave the assurances of President Tinubu that there will be no increase in the pump price of petrol anywhere in the country, allaying fears of increased cost of living among citizens.
Meanwhile, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) which had earlier taken to the streets to protest certain government policies, met with the leadership of the Senate on August 8. One of the issues presented by the labour unions was the removal of petrol subsidy and the resultant increase in the price of petrol, which they described as occasioning severe suffering for Nigerians in the absence of far-reaching measures by the Federal Government to cushion its adverse effect. They also told the President of the Senate that the panel set up by President Tinubu to negotiate with the unions on the issue of petrol subsidy removal, was yet to meet with them two months after subsidy was removed. For this reason, they expressed doubts with regard to the capacity of the panel to carry out the assignment. The unions also presented a document containing their demands, to the leadership of the Senate. Some of these demands include an increase in minimum wage and a reduction in the pump price of petrol.
The President of the Senate, Senator Godswill Akpabio assured the labour unions that the Executive was working out measures to ameliorate the plight of citizens. He also expressed the Senate’s commitment to finding a lasting solution to labour-related issues in the country.