The Nigeria Employers Consultative Association described the new hike in pump price of Premium Motor Spirit also known as petrol as worrisome and unfair.

The Director-General of NECA, Adewale-Smatt Oyerinde, said this in a statement while reacting to the new hike in pump price of PMS on Tuesday in Abuja.

Recall that the Nigerian National Petroleum Company Limited said that with effect from September 3, the new pump price of PMS would be N897 per litre.

According to Mr Oyerinde, the new pump price of petrol is not only worrisome but also unfair.

He said, “We had expected that the government would leverage on the momentum created by the completion of the Dangote refinery and the planned commencement of operation of the Port-Harcourt refinery. This is in order to clear the obvious self-inflicted pain on Nigerians and progressively reduce the pump price of petrol. This seems not to be the case. This new pump price could be seen as making Nigerians to pay for the crass inefficiency in the NNPCL.’’

He said that rather than address the fundamentals that had made Nigeria a net importer of petrol, even when we have four refineries, the government continued to inflict pain on Nigerians.

According to him, the government is advertently contributing to the increase in cost of doing business.

The NECA DG said, “We advise that government should have a rethink and do all that is necessary to address the continuous impoverishment of Nigerians and incapacitation of organised businesses.’’

(NAN)