NLC laments rising petrol price, challenges govt on measures to shield Nigerians

The Nigeria Labour Congress (NLC) has expressed concern over the rising cost of petrol in the country, demanding urgent action from the Federal Government. In a statement signed by its President, Joe Ajaero, the NLC highlighted that petrol now sells for approximately N1,430 per litre in major cities, with prices reportedly higher in more remote areas.

The labour organization warned that the increasing fuel prices would exacerbate the economic hardships faced by Nigerians, as higher transportation costs often lead to higher prices for food, rent, school fees and other essential goods and services.

The NLC suggested that the government introduce measures to alleviate the impact of the higher petrol prices, including providing reasonable wage increases for workers, enabling local refineries to purchase crude oil in naira, and expanding the country's national petroleum storage capacity. These steps, the NLC argued, would not only ease the burden on Nigerians but also stimulate job creation, generate economic value, and address emerging security challenges.

The union emphasized that government intervention, such as subsidies, should not be ruled out in times of emergency. Ajaero pointed out that oil-producing nations were implementing various forms of intervention or palliatives to protect their citizens from the consequences of the ongoing global energy crisis. He also criticized the importation of crude by some local refineries, stating that it contradicts the goal of developing domestic refining capacity and is neither reasonable nor acceptable.

The NLC urged the Federal Government to act swiftly, rather than allow the burden to solely fall on workers and citizens. The union's President stressed that the government, which is seeking re-election in the near future, "cannot afford to stand and watch marketers inflict suffering on the citizenry in the name of deregulation."