The Nigeria Labour Congress (NLC) has called on the federal government to reverse the recent surge in fuel prices, following the announcement by the Nigerian National Petroleum Corporation Limited (NNPCL) of new pricing structures.
In a statement, signed by its president, Joe Ajaero, the NLC expressed its concern over the federal government’s handling of fuel pricing, particularly under President Bola Tinubu’s administration.
The labor union emphasized that the recent increases in fuel prices have not brought about any positive outcomes for the Nigerian populace, but rather have exacerbated the financial burden on the people.
“We are dismayed by the latest increase in the pump price of petrol,” Ajaero said. “It appears that the only thing this government is known for is raising fuel prices without considering the capacity of Nigerians to cope or providing any mitigating measures.”
Ajaero further criticized the role of the NNPCL, stating, “Even following the logic of market forces, it is an aberration that a private company like NNPCL is fixing prices and projecting itself as a hegemonic monopoly. The government needs to return to the drawing board and provide a comprehensive plan for inclusive economic growth and national development, rather than relying on erratic policy decisions and palliative measures.”
The NLC warned that the latest fuel price hike has drastically impacted Nigerians, deepening poverty, reducing production capacity, and causing further job losses. Ajaero urged the government to reverse the increase, as previous hikes have only exacerbated poverty, without yielding any economic benefits.
He concluded by urging the government to be transparent about its long-term vision for the country, stating, “The government must be courageous enough to communicate its long-term goals for the nation to the citizens.”
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