The Nigeria Labour Congress (NLC) has strongly criticized the federal government following the recent hike in the price of Premium Motor Spirit (PMS), commonly known as petrol. On Wednesday, the NLC demanded the immediate reversal of the price increase, calling it illogical and detrimental to Nigerians.
The Nigerian National Petroleum Company Limited (NNPCL) raised the price of petrol from N898 to over N1,030, sparking outrage. NLC President, Joe Ajaero, questioned the federal government’s decision to continuously raise fuel prices without addressing the economic realities facing the populace. He expressed frustration that the minimum wage has not yet been adjusted, while fuel prices keep rising.
“We are dismayed by the latest increase in the pump price of petrol,” Ajaero said, adding that the government seems to only focus on fuel price hikes without implementing measures to support Nigerians. He also criticized the NNPCL’s role in setting prices, calling it a “hegemonic monopoly.”
Ajaero urged the government to devise a comprehensive economic blueprint to foster growth and stability, rather than relying on ad-hoc policies and palliatives. He warned that the price hike would deepen poverty, reduce production, and lead to further job losses. The NLC called for an immediate reversal of the increase, arguing that previous hikes only worsened the economic situation for Nigerians.
