By The Nigeria Labour Congress (NLC) has called for the immediate reversal of the recent fuel price hike, criticizing the Nigerian National Petroleum Company Limited (NNPCL) for setting fuel prices in what is supposedly a deregulated market. The NLC stated that the federal government, led by President Bola Tinubu, should roll back the latest increase, as previous hikes have not yielded any positive outcomes.
NLC President, Joe Ajaero,
In a statement issued by its president, Joe Ajaero, the NLC argued that it is illogical for a private entity like NNPCL to be controlling prices while acting as a monopolistic force in the market. The statement, titled “What Next After the Increase in Pump Price?” expressed concern over the government’s repeated hikes in fuel prices, noting that these increases come without any measures to mitigate the economic strain on Nigerians.
“We are dismayed by the latest hike in petrol prices. It seems this government is known only for raising fuel costs, with no regard for the capacity of Nigerians to cope or any concrete measures to ease their burden,” the statement read. “Even by market-driven standards, it is absurd that NNPCL, a private company, is setting prices and positioning itself as a monopoly. We challenge the government to develop a comprehensive plan for inclusive economic growth, rather than relying on these sporadic, short-term policies.”
The NLC further noted that the latest price increase has once again disrupted the fragile adjustments Nigerians were making to the economic realities, warning that it will deepen poverty, shrink production capacity, and lead to more job losses. The organization urged the government to reverse the hike immediately, as past increases have only worsened living conditions without any tangible benefits. “More importantly, the government should clearly communicate its long-term vision for the country’s economic direction,” the statement concluded.
