Another petrol price hike: NLC kicks, decries increasing poverty, job loss
Petrol scarcity
Nike Popoola
The Nigerian Labour Congress (NLC) has decried another increase in the pump price of petrol by the NNPCL, saying it will further increase poverty level in the country.
It reacted in a statement by the President, NLC, Comrade Joe Ajaero, on Wednesday night, as NNPCL filling stations raised their prices across the country.
Nigerians were shocked to wake up to the reality of another fuel price hike within a month, as retail stations of NNPCL raised pump price to N1,030 from N897/litre in Abuja, and to N998/litre from N868/litre in Lagos. This increase was replicated in other states.
It is worth of note that petrol price which has seen several increases was sold at N198/litre before President Bola Tinubu took over on May 29, 2023.
In the statement released by the NLC, Ajaero stated that, “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 increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.
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.
“We challenge the government to go to the drawing board and present us with a blueprint for an inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy. It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities.
“It will further deepen poverty as production capacities dip, more jobs lost with multidimensional negative effects. In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good result. People only got poorer.
But more fundamentally, the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”
