The Nigeria Labour Congress (NLC) has criticized President Bola Ahmed Tinubu’s administration following the latest surge in petrol prices, which have climbed to as high as ₦1,430 per litre across the country.
NLC President, Joe Ajaero, in a statement on Wednesday, warned that the hike was worsening the cost of living, pushing up transportation fares, rents, tariffs, and food prices, thereby deepening poverty among Nigerians.
The increase follows global crude oil prices rising above $104 per barrel, prompting filling stations, including Nigerian National Petroleum Company Limited (NNPCL) outlets to adjust pump prices to between ₦1,395 and ₦1,450 per litre in Abuja and surrounding areas.
Dangote Refinery and depot owners also raised ex-depot petrol prices to between ₦1,265 and ₦1,340 per litre.
Ajaero lamented that despite trillions of naira in windfall revenues from crude oil sales, the government had failed to provide palliatives to cushion the hardship.
He urged Tinubu to act swiftly, stressing that petroleum marketers should not be allowed to inflict pain on citizens under the guise of deregulation.
“These measures are all the more necessary and urgent because the government is making extra money in the international spot market, 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,” Ajaero said.
He further called for adequate crude supply to local refineries to reduce dependence on imports and shield Nigeria from global energy shocks.
“We are of the view that a government seeking 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 added.
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