The Nigeria Labour Congress (NLC) has sharply criticized the recent increase in the price of Premium Motor Spirit (PMS), or petrol, which has risen to N1,030 per litre.
In a statement issued by its president, Joe Ajaero, the NLC condemned the government’s ongoing focus on escalating fuel prices while urging an immediate reversal of the hike.
Ajaero stated, “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.”
He emphasized the need for the government to provide a comprehensive economic strategy rather than resorting to sporadic policy changes.
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The NLC president expressed disappointment in the Nigerian National Petroleum Corporation Limited (NNPCL) for its role in the pricing decision and called for greater transparency regarding the government’s plans for the nation’s economic future.
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He warned that the latest price increase would exacerbate poverty and threaten job security, stating, “The latest wave of increase has grossly altered the calculations of Nigerians… It will further deepen poverty as production capacities dip and more jobs are lost.”
Ajaero urged the government to reconsider the hike, reminding officials that previous increases have led to negative outcomes for citizens.
“We urge the government to immediately reverse this rate hike as previous increases did not produce any good results. People only got poorer,” he asserted.
