The Nigeria Labour Congress (NLC) has expressed serious concerns that petrol prices in Nigeria could potentially rise to as much as N5,000 per litre. This alarming projection comes after earlier reports indicated that filling stations owned by the Nigerian National Petroleum Company Limited (NNPC) had already increased petrol prices to over N850 per litre across the country.
The reported price hike follows a directive from NNPC management, instructing an immediate increase from N568 to N855 per litre.
Benson Upah, the spokesperson for the NLC, voiced these concerns during an interview with Daily Trust, where he warned that the possibility of petrol prices reaching N5,000 per litre was a real threat. He also highlighted that the recent price hike violated a previous agreement that the NLC had reached with the federal government during negotiations.
According to Upah, the NLC is preparing to meet with its internal bodies to determine the next steps. He emphasized that any decisions made would be in the best interest of both the union’s members and the wider Nigerian public.
Upah also acknowledged the widespread frustration and anger throughout the country, stating that the discontent was not limited to the labour movement but extended to nearly all Nigerians, except for a small, privileged one per cent of the population.
This elite group, he said, benefits from state resources, while the majority of Nigerians continue to suffer from escalating fuel prices and economic challenges.
Upah also addressed a statement made by Abdulaziz Abdulaziz, the Senior Special Assistant to the President on Print Media, who denied the existence of an agreement between the federal government and the NLC regarding fuel prices.
In response, Upah reiterated that the NLC felt deeply betrayed by the government’s decision to increase petrol prices, especially given the prior negotiations.
Providing further details, Upah recalled a negotiation between the NLC and the federal government, where President Bola Tinubu presented two offers. The first proposal was to increase the minimum wage to N250,000, but this would come with a corresponding increase in petrol prices to between N1,500 and N2,000 per litre.
The second option was to maintain the minimum wage at N62,000, with no change in the petrol price. The NLC rejected the offer of N250,000, out of concern for its potential negative impact on ordinary Nigerians.
Upah emphasized that the government’s actions had moved beyond the issue of minimum wage negotiations, as the recent fuel price hikes had a broad and severe impact on all Nigerians. Since the first price increase in May 2023, following the removal of the fuel subsidy, Nigerians have been struggling to cope with the resulting sharp rise in the cost of living, including the costs of education, transportation, and food.
As people were beginning to adjust to these new economic realities, the government introduced yet another round of price hikes, further exacerbating the situation and creating uncertainty for the future.
Upah questioned why fuel prices were continuing to rise even after the subsidy had been removed. He argued that Nigerians were being misled about the status of the subsidy, which had never been restored after its removal.
He warned that the nation could face petrol prices as high as N5,000 per litre if current trends continue, although he expressed hope that such a scenario could be avoided. Nonetheless, he concluded that if fuel prices were to reach such extreme levels, it would ultimately be up to the Nigerian people to decide how to respond to this growing crisis.
