The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently intervene following the surge in petrol prices to between N1,230 and N1,300 per litre across the country.
The demand was made in a statement issued by the President of the labour union, Joe Ajaero.
Ajaero said the sharp increase in petrol prices has worsened the economic hardship faced by Nigerian workers, particularly through rising transportation costs, higher food prices, and an overall increase in the cost of living.
What the NLC is saying
According to the NLC president, the government must introduce urgent relief measures to cushion the impact of the fuel price increase on workers and vulnerable citizens.
- “The sudden increase in petrol price to between N1,170 and N1,300 per litre has further deepened the economic hardship faced by Nigerian workers and the general populace,” the NLC Chairman said.
He added that the rising cost of fuel has made transportation increasingly unaffordable for many workers, while prices of food and other essential commodities continue to climb beyond the reach of ordinary Nigerians.
He urged the Federal Government to consider wage support initiatives and policies aimed at easing the pressure on household incomes.
- “The government must urgently introduce measures, including wage support and cost of living relief, to cushion the devastating impact of the current fuel price crisis on workers and vulnerable citizens,” Ajaero said.
He also called for tax relief for low income earners and expanded social support programmes targeted at vulnerable Nigerians to mitigate the harsh economic conditions facing many households.
More insights
Ajaero said the current situation highlights the vulnerability of Nigeria’s downstream petroleum sector to fluctuations in the global oil market.
- He stressed the need for the government to ensure that public refineries nationwide are fully operational to reduce dependence on imported petroleum products.
- According to him, reviving Nigeria’s refineries would help stabilise domestic fuel supply and reduce exposure to sudden price shocks in the international market.
- The NLC president also urged the government to ensure transparency in managing any additional oil revenue arising from current global market developments.
He said any windfall arising from rising crude oil prices should be channelled toward improving the welfare of Nigerians.
What you should know
Nairametrics earlier reported that the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to channel gains from the current surge in global oil prices into investments in Nigeria’s gas infrastructure.
Dr. Billy Gillis-Harry, National President of PETROAN, said this in an interview with the News Agency of Nigeria (NAN) on Sunday while reacting to the implications of the Middle East crisis and rising oil prices for Nigeria.
The remarks came amid renewed tensions in the Middle East, where the ongoing war involving Iran and the combined forces of Israel and the United States has disrupted global energy supply and pushed crude oil prices higher in the international market.
