Petrol price: NLC seeks wage relief, naira crude supply for refineries
The Nigeria Labour Congress (NLC) has called on the Federal Government to introduce emergency measures, including wage awards for workers, to cushion the impact of rising petrol prices across the country.
The labour centre also urged the government to supply sufficient crude oil to local refineries in naira and expand Nigeria’s petroleum storage capacity to strengthen energy security and provide a buffer against supply disruptions.
In a statement titled Save the Situation Now, NLC President Joe Ajaero said petrol was selling for about ₦1,430 per litre in major cities, with consumers in less accessible areas reportedly paying more.
Ajaero warned that higher fuel prices were putting further pressure on household incomes because increases in transport costs tend to feed into the prices of food and other goods and services.
The NLC said the latest increase had come as efforts to push marketers towards lower pump prices in response to movements in international crude prices were beginning to show results. It attributed the renewed pressure partly to conflict in the Gulf, while arguing that Nigeria’s position as an oil producer with domestic refining capacity should provide some protection against external energy shocks.
The labour centre called for immediate government intervention to protect workers, households and businesses.
It proposed wage awards, increased crude supply to domestic refineries in naira and an expansion of national petroleum storage capacity.
The NLC also argued that government support, including subsidies or other forms of relief, should not be ruled out during periods of severe economic pressure.
Ajaero said such measures could ease the burden of higher fuel costs while supporting domestic refining, employment and economic activity.
The labour leader further claimed that higher international crude prices had generated additional revenue for the government, saying crude was trading between $35 and $40 per barrel above the benchmark used in the federal budget. The NLC said the additional revenue could provide fiscal room for measures aimed at cushioning the impact on Nigerians.
The congress also raised concerns about local refineries importing crude oil, arguing that the practice undermined efforts to strengthen domestic refining capacity.
Ajaero said organised labour would continue to press for measures to protect workers and other Nigerians from the effects of rising energy costs.