The Nigeria Labour Congress (NLC) has demanded an immediate reversal of the recent fuel price hike, criticizing the Nigerian National Petroleum Company Limited (NNPCL) for setting prices in a supposedly deregulated market. The NLC, led by President Joe Ajaero, has called on President Bola Tinubu’s administration to roll back the price increase, arguing that previous hikes have not yielded any positive outcomes for the people.
In a statement issued by Ajaero, the NLC expressed concern over NNPCL’s pricing role, stating that it is inappropriate for a private company to dominate price-setting in a deregulated sector. “It is an aberration that NNPCL, a private entity, is fixing fuel prices while acting as a monopoly in what is supposed to be a deregulated market,” the statement read.
The NLC accused the government of being overly focused on increasing fuel prices without offering measures to mitigate the negative impact on the Nigerian populace. “This administration seems to only excel at raising the price of petrol, without addressing the economic hardships Nigerians face or providing sustainable solutions,” Ajaero said.
Titled “What Next After Increase in Pump Price?”, the statement emphasized that the recent hike has drastically affected Nigerians’ cost of living, deepening poverty and leading to job losses as businesses struggle with reduced production capacities. The NLC noted that many Nigerians were already struggling to adjust to earlier price increases, and the latest rise only worsens the situation.
“We urge the government to reconsider and immediately reverse the price hike. Previous increases have only led to greater hardship, with no tangible improvements in the lives of Nigerians,” the NLC stated. The organization also urged the government to present a clear, long-term plan for national economic development, rather than relying on “sporadic, short-term policies and palliatives.”
The NLC’s statement concluded by challenging the government to be more transparent about its economic agenda, asking leaders to communicate their vision for the country’s future.
