The Nigeria Labour Congress (NLC) has sharply opposed the recent increase in fuel prices, branding it as an anomaly that contradicts the ideals of a deregulated market. The NLC contends that the Nigerian National Petroleum Company Limited (NNPCL), a government-owned company, should not be the sole arbiter of fuel prices in a sector ostensibly subject to market forces.
In a statement issued by NLC President Joe Ajaero, the union urged an immediate reversal of the fuel price hike, underscoring that previous increases had not resulted in any meaningful advantages for Nigerians.
The statement titled “What next after increase in pump price?” reads, “We are dismayed by the latest increase in the pump price of gasoline. It looks like the only thing this government is known for is the increase in the pump price of gasoline 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 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 and more jobs are 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 results. 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.”
