Highly politicized Nigeria Labour Congress (NLC) in a statement issued on Wednesday by its President, Joe Ajaero, criticized the petrol pump price hike, calling for an immediate reversal of the price increase. He argued that previous hikes in fuel prices had only impoverished Nigerians without yielding any positive outcomes.
The NLC, however, stopped short of initiating any action to counter the proposal which it said was bound to further impoverish workers.
“It will further deepen poverty as production capacities dip, more jobs lost with multidimensional negative effects,” the NLC president said of the petrol pump price hike.
“In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good result. People only got poorer.”
Retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) had adjusted the pump price of petrol in key cities such as Lagos and Abuja. In Lagos, NNPCL outlets sold petrol for ₦998 per litre, up from ₦855, while non-NNPCL stations raised their prices as high as ₦1,050 in some areas.
Ajaero also expressed concern over the government’s approach, accusing the NNPCL of operating as a “hegemonic monopoly” that unilaterally fixes petrol prices without adequate consideration for the people’s economic realities.
“It looks like the only thing this government is known for is increasing the pump price of petrol without considering the capacity of Nigerians or implementing mitigatory measures,” the NLC president added.
He enjoins the government to present a comprehensive economic plan that promotes inclusive growth, rather than resorting to “ad hoc” policies and temporary palliatives that fail to address the root causes of the country’s economic challenges.
The fast losing relevance NLC’s statement is coming on the heels of growing public discontent over the rising cost of living, with the latest petrol price hike adding more pressure being faced by struggling households and businesses across the country.
