FG receives report of Technical Committee on PMS Pricing Framework

The Federal Government has announced that it has received the report of the Technical Committee on Premium Motor Spirit (PMS) Pricing Framework alongside Organised Labour.

This was disclosed in a statement by the FG on Wednesday, after a bipartite meeting in Abuja between the Federal Government and Organised Labour.

The Minister for Labour and Employment, Dr. Chris Ngige, stated that the meeting had been adjourned to 22 February 2021 when the FG would deliberate on the report.

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“The Committee on Petroleum Pricing has finished their work and sent in their report. We have received and adopted the report.

“Labour asked for some time to subject the report to their various organs. It is a technical report, so they need further elucidation from their technical and research teams,” Ngige said.

The Minister added the report of the Technical Committee on Electricity Tariff would be ready in a week’s time, citing that the report would be reviewed alongside that of Petroleum Pricing on 22 February.

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The President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba, said Organised Labour unions need to implement a clear position that would benefit the masses.

“The whole essence of what we are arguing about is how to bring not only price stability but also affordability.

“Our pledge on the government side is that whatever decisions are reached, we will ensure that government honors its own part of the bargain so that we can maintain and sustain industrial harmony in our nation,” he added.

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What you should know 

Recall Nairametrics reported that the Federal Government inaugurated the Technical Committee on Pricing Framework for Premium Motor Spirit (PMS), otherwise known as petrol. The Committee was expected to work assiduously to come up with a viable framework for PMS price modulation.