The Nigeria Labour Congress (NLC) has strongly condemned the recent hike in the pump price of petrol, demanding that the federal government reverse the increase immediately.
The labour union expressed its disapproval following the announcement that the price of premium motor spirit (PMS), commonly known as petrol, had skyrocketed to over N1,000 per litre at filling stations across the country.
This latest price hike, announced on Wednesday, has sparked widespread anger and concern among Nigerians, who are already grappling with economic hardships. Many citizens see the sudden fuel price increase as a further burden on their already strained finances.
In a statement released on Wednesday evening, the President of the NLC, Comrade Joe Ajaero, expressed the union’s outrage at the federal government’s decision to raise fuel prices once again. Ajaero said the move was made without offering Nigerians any meaningful relief or strategy to cope with the resulting financial pressures.
The NLC also criticized the role of the Nigerian National Petroleum Company Limited (NNPCL) in the price increase. According to Ajaero, NNPCL has positioned itself as a monopoly in the oil market, dictating fuel prices without any competition. This, he said, contradicts the very principles of a free and competitive market that the government claims to support.
“It looks like the only thing this government is known for is increasing the pump price of petrol,” Ajaero said in a sharp rebuke. He added that NNPCL’s role in setting fuel prices is “an aberration” and challenged the government to adopt a more sustainable and transparent approach to economic management.
For many Nigerians, this sudden jump in petrol prices is the latest in a long series of economic challenges. The country has been struggling with rising inflation, high unemployment, and increasing food prices, making daily survival increasingly difficult for the average citizen.
Experts have warned that the new fuel price could have severe economic consequences. With petrol now costing over N1,000 per litre, the cost of transportation, goods, and services is expected to rise sharply. This, in turn, will further worsen Nigeria’s already high poverty rate.
The NLC president highlighted these concerns, warning that the latest price hike would “deepen poverty” and shrink the country’s production capacity. Ajaero also cautioned that more jobs would be lost as businesses struggle to cope with the rising cost of fuel, which is an essential input for most sectors of the economy.
“Nigerians were just beginning to reluctantly adjust to the last price hike,” Ajaero said. “Now, this new increase has thrown all their calculations into disarray.”
The NLC’s statement noted that previous fuel price increases had not led to any noticeable economic improvement for the average Nigerian. “People only got poorer,” Ajaero lamented, pointing to the government’s inability to provide any long-term solutions to the economic hardships facing the country.
The NLC is calling on the government to go back to the drawing board and develop a clear and sustainable economic strategy that includes all Nigerians. Ajaero described the government’s current approach as “spasmodic” and “ad-hoc,” noting that the frequent, unplanned fuel price hikes are only causing more pain for citizens.
“We challenge the government to present us with a blueprint for inclusive economic growth and national development instead of this ad-hocism and palliative policies,” Ajaero said.
The labour leader also urged the government to communicate its economic goals clearly to the public. He stressed that Nigerians need to know where the government is taking the country economically, rather than being subjected to sudden, disruptive policy changes like the recent fuel price increase.
“The government should be bold enough to tell Nigerians in advance the destination it wants to take the country,” Ajaero stated.
The sudden increase in fuel prices has left many Nigerians feeling frustrated and helpless. Across social media platforms, citizens have been voicing their anger, with many wondering how they will cope with the additional costs.
Nigeria has a long history of fuel price increases, often leading to public protests and strikes organized by the NLC and other labour unions. The price of petrol has been a highly sensitive issue in the country for decades, as it directly affects the cost of living for millions of Nigerians.
In 2012, the removal of fuel subsidies by the government led to widespread protests, famously known as the “Occupy Nigeria” movement. The protests, which brought much of the country to a standstill, forced the government to partially reinstate the subsidies.
Since then, successive governments have struggled with the issue of fuel pricing, often walking a tightrope between reducing subsidies and managing public outrage. The current administration, led by President Bola Tinubu, has taken steps to completely remove fuel subsidies as part of its economic reform agenda. However, this move has been met with fierce resistance from labour unions and the general public.
The recent hike to over N1,000 per litre is one of the highest in Nigeria’s history, and the backlash has been swift and intense.