Petroleum products pricing regulatory agency (PPPRA) has announced a new petrol price of N145 for a litre, or below.
The agency in a statement by its executive secretary, Sotonye Iyoyi, said despite the new price, the petroleum sector was not yet deregulated, but still under the price modulation regime which began on January 1, this year.
PPPRA, however, said there was no subsidy in the new petrol price in order to reflect the market realities.
It said NNPC retail outlets located on the outskirt of major cities could sell the products at a price below N145 per litre.###
Meanwhile, the Nigeria Labour Congress (NLC) has faulted the new petrol price of N145 per litre and directed its state councils and affiliate unions to begin mobilizing workers for a possible strike.
NLC promised to mobilize workers to fight the new price, which it regards as provocative and insenstive to the plight of workers.
The labour body and the trade union congress have scheduled an emergency meeting for Friday, to decide on their next line of action on the new price.
NLC recalled that its leaders objected to the immediate removal of the subsidy at a meeting presided over by vice president on Wednesday in Abuja, where the decision was taken.
At the meeting, NLC said it canvassed for the shelving of the new price until it met with its affiliate unions