The Nigeria Labour Congress (NLC) has taken a firm stance against the recent hike in the price of Premium Motor Spirit (PMS), commonly known as petrol, by the Federal Government.
On Wednesday, the labour body demanded an immediate reversal of the fuel price, criticizing the government’s handling of the situation and questioning why a private company is allowed to dictate the cost of such an essential commodity.
The Nigerian National Petroleum Company Limited (NNPCL) had recently increased the price of petrol from N898 to over N1,030 per liter, according to reports by Daily Trust.
This move triggered an outcry from the NLC, with its president, Joe Ajaero, expressing disappointment over the continued rise in fuel prices, especially when the minimum wage for workers has yet to be implemented.
Ajaero stated, “We are dismayed by the latest increase in the pump price of petrol. It looks like the only thing this government is known for is increasing the pump price of petrol without considering the capacity of Nigerians or providing mitigatory measures.”
He went on to criticize the NNPCL’s role in determining prices, calling it a monopoly that is detrimental to the well-being of Nigerians. “Even following the logic of market forces, we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly,” Ajaero said.
The NLC leader urged the government to revisit its approach to economic management and present a clear plan for inclusive economic growth.
“We challenge the government to go back to the drawing board and present us with a blueprint for inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policies,” he added.
Ajaero further highlighted the damaging impact of the continuous price hikes, noting that this latest increase had worsened the already difficult conditions faced by Nigerians.
He lamented that people were barely adjusting to previous price rises when another was announced, worsening poverty and unemployment. “It will further deepen poverty as production capacities dip, more jobs are lost, with multidimensional negative effects,” he stressed.
In his concluding remarks, Ajaero called on the government to immediately reverse the hike, pointing out that previous increases have not benefited the public.
He warned that unless the government outlines a clear vision for the nation’s future, Nigerians will continue to suffer. “The government should be bold enough to tell Nigerians in advance the destination it wants to take the country,” he emphasized.
