The Nigeria Labour Congress (NLC) has rejected the latest hike in petrol pump prices implemented by the Nigerian National Petroleum Company Limited (NNPCL), calling the move detrimental to the country’s economic stability and wellbeing.
In a statement released on Wednesday, NLC President Joe Ajaero expressed strong disapproval of the price adjustment, which has seen petrol selling for as much as ₦1,030 per litre in Abuja and ₦998 per litre in Lagos. The new rates represent a significant increase from the previous price of ₦855 per litre.
“This hike will further deepen poverty as production capacities shrink, and more jobs are lost,” Ajaero warned. “The negative ripple effects are multidimensional, hitting Nigerians hard on all fronts.”
According to the NLC, the government has failed to provide any tangible results from previous fuel price increases, and the latest move only exacerbates the suffering of ordinary citizens. “People only got poorer. We urge the government to reverse this hike immediately,” Ajaero stated.
He also criticized the NNPCL for its dominant role in setting fuel prices, stating, “It is unacceptable that a private company like NNPCL continues to act as a hegemonic monopoly, fixing prices without regard for the impact on citizens.”
Ajaero called on the government to take decisive action by presenting a comprehensive economic plan. “Instead of these sporadic, ad-hoc decisions and palliative policies, the government should provide a clear blueprint for inclusive economic growth and national development,” he urged.
The NLC’s rejection of the price hike comes at a time when many Nigerians are grappling with the rising cost of living, and there are growing concerns that the situation could worsen in the coming months. Many independent filling stations have also followed suit, selling petrol at prices exceeding ₦1,050 in parts of Lagos, further compounding the burden on consumers.
