The Nigerian Labour Congress (NLC) has demanded the immediate reversal of the recent petrol price increase, citing severe economic consequences for Nigeria and its citizens.
NLC President Joe Ajaero in a statement released on Wednesday, condemned the sudden price surge, which saw petrol selling at N1,030 per litre in Abuja and N998 per litre in Lagos.
“We are dismayed by the latest increase in the pump price of petrol,” Ajaero stated.
He added, “It looks like the only thing this government is known for is increasing the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.”
The price adjustment followed NNPCL’s withdrawal from its exclusive role as the sole petrol buyer from the Dangote Refinery, significantly impacting the government’s pricing strategy. Ajaero expressed concern about NNPCL’s role in price determination, stating, “Even following the logic of market forces, we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly.”
The latest price increase has disrupted economic planning for many Nigerians who were still adapting to previous price adjustments,
Ajaero warned. “It will further deepen poverty as production capacities dip, more jobs are lost, and multidimensional negative effects ensue.”
The NLC challenged the government to develop a clearer economic roadmap.
“We challenge the government to go to the drawing board and present us with a blueprint for inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy,” Ajaero demanded.
The labor congress emphasized the futility of previous price increases, noting that such measures had only led to increased hardship.
“In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good results. People only got poorer,” the NLC president stated.
Ajaero called for greater transparency from the government regarding its economic plans, insisting that “the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”
