The Nigeria Labour Congress (NLC) on Wednesday condemned the recent hike in petrol prices, warning that it would further exacerbate poverty in the country.
“This increase will deepen poverty as production capacities decline and more jobs are lost, leading to widespread negative impacts,” said NLC President Joe Ajaero in a statement. “We urge the government to reverse this price hike immediately, as previous increases have only made people poorer.”
Ajaero also called for transparency, urging the government to clearly communicate its long-term plans for the country.
Retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) adjusted the petrol pump price on Wednesday in Lagos and the Federal Capital Territory (FCT), Abuja. In Lagos, NNPCL stations sold petrol at ₦998 per litre, a sharp rise from the previous ₦855. Other fuel stations followed suit, with some selling petrol for as much as ₦1050 per litre in parts of Lagos.
In response, the NLC President expressed his disappointment at the latest price hike, stating, “It seems this government is only known for increasing petrol prices without considering the capacity of Nigerians to cope or providing any meaningful mitigation measures.”
Ajaero criticized the dominance of the NNPCL in setting fuel prices, calling it a “hegemonic monopoly” and challenging the government to develop a comprehensive plan for inclusive economic growth and national development, instead of relying on inconsistent policies and palliative measures.
“The latest price increase has once again disrupted the already difficult lives of Nigerians, just as they were beginning to adjust to their new realities,” he added.
