President Muhammadu Buhari and the state governors will on Thursday meet to discuss the issue of fuel pricing.
The Minister of Labour and Employment, Senator Chris Ngige, made this known on Sunday night after a bipartite meeting of the Federal Government and the organised labour at the Banquet Hall of the Presidential Villa, Abuja.
Ngige, while briefing the newsmen after the meeting said the labour had investigated the report of the Technical Committee on Premium Motor Spirit (popularly called petrol) Pricing Framework as agreed at the last meeting and made their submissions alongside the Nigerian National Petroleum Corporation.
“The labour side saw that they were making some points and like I said, it is work in progress. Governors are going to discuss this on Thursday.
“They have discussed this at the National Economic Council and so, everybody is involved because we find ourselves in dire straits. There is no money for subsidy.
“The NNPC has explained: What they are doing is import- dependent. Deregulation is import-dependent but they are doing bulk purchasing. So, they can get discounts.
“They are also using foreign exchange that is discounted for them. They are not buying from the parallel market. So, all these things will be put in basket and a price will emerge from it,” The minister said.
Ngige maintained that the Federal Government has concluded discussions with the organised labour on the fuel pricing.