The Nigeria Labour Congress (NLC) has called on President Bola Ahmed Tinubu’s administration to urgently provide relief measures for Nigerians following another increase in petrol prices across the country.
NLC President, Joe Ajaero, made the demand in a statement issued on Wednesday as petrol prices climbed beyond N1,430 per litre in some parts of Nigeria.
The latest increase followed a rise in global crude oil prices above $104 per barrel, prompting several filling stations, including Nigerian National Petroleum Company Limited (NNPCL) retail outlets, to adjust their pump prices. Prices reportedly reached between N1,395 and N1,450 per litre in Abuja and surrounding areas.
The development came after the Dangote Refinery and depot operators increased their gantry and ex-depot petrol prices to between N1,265 and N1,340 per litre.
Reacting to the situation, Ajaero said the increase in petrol prices had triggered higher transportation costs and contributed to rising expenses across areas such as fees, rent, tariffs and food.
He said the worsening cost of living had either pushed more Nigerians into poverty or deepened the financial difficulties already faced by citizens, including workers.
Ajaero also criticised the Federal Government for failing to provide adequate palliatives despite what he described as substantial revenue generated from crude oil sales and windfall earnings.
He argued that with the 2027 presidential election approaching, the Tinubu administration should not allow petroleum marketers to impose additional hardship on Nigerians under the guise of deregulation of the oil and gas sector.
The NLC president therefore urged Tinubu to intervene immediately by providing sufficient palliatives to ease the impact of the rising cost of living.
He also called on the Federal Government to ensure that local refineries have adequate access to crude oil in order to minimise the effect of international energy price shocks on Nigeria.
“These measures are all the more necessary and urgent because the government is making extra money in the international spot market (of between USD35 and 40 per barrel above the budgeted figure). This translates to trillions of naira a month.
“Government ought to be satisfied with this as it is a windfall.
“On a long-term basis, we are equally concerned that local refineries are importing crude. This is unreasonable and unacceptable and defeats the logic and purpose of local capacity.
“We are of the view that a government that seeks re-election in the next few months cannot afford to stand and watch marketers inflict suffering on the citizenry in the name of deregulation,” he stated.
