The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Lagos / AFP
Nigeria’s government will meet union leaders to try to prevent a planned national strike over a 67 percent hike in the price of petrol, the labour ministry said on
Monday.
Ministry spokesman Samuel Olowookere said the talks would take place in Abuja at 3:00 pm (1400 GMT) and involve government officials, the Nigeria Labour Congress (NLC) and its affiliates.
The NLC and the Trade Union Congress (TUC) have called for an indefinite strike from Wednesday unless petrol prices were slashed from 145 naira ($0.73, 0.64 euros) to 86.50 naira per litre. Government offices, airports, sea ports and businesses, including banks, shops and markets, would be shut if talks failed, the unions warned, calling on people to stockpile food.
Any industrial action would exacerbate economic pressures in Africa’s largest economy caused by the global slump in crude prices, which has drastically cut revenue from oil sales.
On Monday, Nigeria’s National Bureau of Statistics said inflation was 13.7 percent in April, up from 12.8 percent the previous month.