NLC rejects new petrol price hike, says it will deepen poverty

The Nigeria Labour Congress (NLC) has strongly opposed the recent hike in petrol pump prices, warning that the move will worsen poverty and lead to more job losses across the country.

In a statement issued on Wednesday, NLC President Joe Ajaero criticized the government’s decision, calling for an immediate reversal of the price increase. He argued that previous hikes in fuel prices had only impoverished Nigerians without yielding any positive outcomes.

“It will further deepen poverty as production capacities dip, more jobs lost with multidimensional negative effects,” Ajaero said. “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.”

Retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) had adjusted the pump price of petrol in key cities such as Lagos and Abuja. In Lagos, NNPCL outlets sold petrol for ₦998 per litre, up from ₦855, while non-NNPCL stations raised their prices as high as ₦1,050 in some areas.

The NLC President expressed concern over the government’s approach, accusing the NNPCL of operating as a “hegemonic monopoly” that unilaterally fixes petrol prices without adequate consideration for the people’s economic realities.

“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 implementing mitigatory measures,” Ajaero added.

He further urged the government to present a comprehensive economic plan that promotes inclusive growth, rather than resorting to “ad hoc” policies and temporary palliatives that fail to address the root causes of the country’s economic challenges.

The NLC’s statement comes amid growing public discontent over the rising cost of living, with the latest petrol price hike adding more pressure to struggling households and businesses across Nigeria.