The Nigeria Labour Congress (NLC) has urged the Federal Government to reconsider its policies that have led to indiscriminate hikes in fuel prices. In a communique issued after a joint meeting of the National Executive Council (NEC) and Central Working Committee (CWC), the NLC stated that the government's policies have allowed a handful of oil marketers to benefit while impoverishing the masses. NLC President Joe Ajaero emphasized that the current fuel price regime has had a devastating impact on the cost of living.
The Federal Government had recently announced a 30-day fuel discount, allowing Nigerians to buy petrol at lower prices at NNPC filling stations. The proposed price modulation mechanism involves a ₦1,350-per-litre ceiling on the ex-gantry or landing cost of petrol, subject to monthly reviews. However, the NLC argues that this measure does not address the root cause of the problem, which is the exorbitant pump price of petrol and its cascading effect on the cost of transportation, food, and other essential goods.
The NLC noted with alarm the deepening misery inflicted on the Nigerian working class and the broader masses by the government's neo-liberal policies. The labour leader stated that inflation continues to soar, the naira remains weak, wages have been rendered worthless, and the cost of living has become unbearable. The NLC President accused the ruling elite of demonstrating a worrying indifference to the suffering of the people.
According to Ajaero, the government's policies have transferred the burden of its fiscal negligence onto the already impoverished working masses. The NLC urged the government to work with relevant agencies to immediately reduce the price of Premium Motor Spirit (PMS), commonly known as petrol. The labour leader emphasized that the government must abandon its insensitive policies that have allowed for indiscriminate hikes in the price of petroleum products.
The NLC's call for a reduction in fuel prices is aimed at providing relief to workers and the masses who are struggling to cope with the current economic situation. The Congress noted that the current fuel price regime has had a devastating impact on the economy, with many Nigerians struggling to afford basic necessities. The NLC's proposal for a reduction in fuel prices is seen as a way to alleviate the suffering of Nigerians.
The Federal Government's proposed price modulation mechanism is intended to prevent sharp movements in global crude prices or the exchange rate from immediately translating into corresponding increases in the cost of petrol. However, the NLC argues that this measure is insufficient to address the root cause of the problem. The Congress is calling for a more comprehensive approach to addressing the issue of fuel prices and its impact on the economy.
The NLC's communique concluded by emphasizing the need for the government to take urgent action to address the suffering of Nigerians. The Congress urged the government to prioritize the welfare of workers and the masses, rather than protecting the interests of a handful of oil marketers. The NLC's call for a reduction in fuel prices is seen as a way to promote economic growth and alleviate the suffering of Nigerians.
Key points
- The Nigeria Labour Congress urges the Federal Government to reconsider its policies that have led to indiscriminate hikes in fuel prices.
- The NLC proposes a reduction in the price of Premium Motor Spirit (PMS) to provide relief to workers and the masses.
- The Congress accuses the government of demonstrating a worrying indifference to the suffering of the people.
