Finance

NLC Faults Petrol Price Hike, Demands Urgent Federal Government Relief for Nigerians

The Nigeria Labour Congress has described the recent rise in petrol prices across Nigeria as a severe burden on citizens, urging the Federal Government to take immediate steps to cushion the hardship faced by workers and ordinary Nigerians.

In a statement issued by the NLC President, Joe Ajaero, the labour union said the increase in fuel prices, triggered by the ongoing tensions in the Middle East, has further worsened the already difficult economic situation in the country.

According to the union, the military conflict involving the United States, Israel and Iran has unsettled the global oil market, pushing petrol prices in Nigeria to between N1,170 and N1,300 per litre.

The NLC stated that Nigerian workers should not continue to bear the consequences of international crises, stressing that the situation has exposed the vulnerability of the nation’s downstream petroleum sector.

The union also expressed concern over the pricing pattern of Dangote Refinery, noting that despite expectations that local refining would ease domestic pressure, fuel prices have continued to rise in line with international crude oil fluctuations.

It warned that continued dependence on market-driven pricing without fully functional public refineries would leave Nigerians exposed to external shocks and possible monopolistic control.

The labour body therefore called on the Federal Government to urgently revive the public refineries in Port Harcourt, Warri and Kaduna to strengthen local supply and reduce pressure on consumers.

On relief measures, the NLC demanded an immediate wage award for workers, introduction of a cost-of-living allowance, expansion of cash transfer programmes for vulnerable Nigerians, and tax relief for low-income earners.

The union further insisted that government must open sincere dialogue with workers and avoid policies capable of deepening poverty in the country.

Recent disruptions in global crude supply linked to tensions around the Strait of Hormuz and the Suez Canal have contributed to volatility in oil prices, with Brent crude reportedly climbing above $100 per barrel before easing.

The development has also forced upward adjustments in ex-depot prices, with fuel marketers across several states increasing pump prices, resulting in higher transport fares nationwide.

Olayinka Babatunde

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