NLC Urges Immediate Reversal of Fuel Price Hike

The Nigeria Labour Congress (NLC) has called on the federal government to immediately reverse the recent increase in fuel prices. The call came after the Nigerian National Petroleum Corporation Limited (NNPCL) announced new fuel pump prices, which have sparked nationwide concern.

NLC’s Stance on Fuel Pricing

In a statement signed by its president, Joe Ajaero, the NLC expressed strong disapproval of the federal government’s handling of fuel pricing under the leadership of President Bola Tinubu. According to the union, previous increases in fuel prices have not yielded any positive outcomes for the Nigerian people. Instead, they have exacerbated the already dire economic conditions, placing additional financial strain on citizens.

“We are dismayed by the latest increase in the pump price of petrol,” Ajaero remarked. “It appears that the only consistent policy of this government is raising fuel prices without considering the capacity of Nigerians to cope, or providing any mitigating measures.”

Criticism of NNPCL’s Role in Pricing

The NLC also raised concerns about the dominant role of the NNPCL in setting fuel prices. Ajaero criticized the corporation’s approach, 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.”

He further emphasized the need for a more comprehensive and inclusive economic strategy, urging the government to avoid erratic policy decisions. “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.”

Impact of Fuel Price Hikes on Nigerians

The NLC warned that the latest fuel price hike has severe consequences for the Nigerian population. Ajaero noted that the increase has deepened poverty, reduced production capacity, and resulted in further job losses. The union believes that previous price hikes have done nothing to alleviate economic challenges and have only worsened the situation for ordinary citizens.

Call for a Clear Economic Plan

In his concluding remarks, Ajaero challenged the government to outline a clear and long-term economic plan for the country. “The government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”

The NLC remains firm in its demand for the immediate reversal of the fuel price increase, stating that without this step, the economic hardship faced by Nigerians will only deepen.

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NLC Urges Immediate Reversal of Fuel Price Hike