The Nigeria Labour Congress (NLC) is urging the federal government to reverse the recent fuel price hike implemented by the Nigerian National Petroleum Company Limited (NNPCL). With petrol prices rising to N1,030 in Abuja and N998 in Lagos, citizens express frustration over the economic impact.
The Nigeria Labour Congress (NLC) is demanding an immediate reversal of the recent fuel price hike implemented by the Nigerian National Petroleum Company Limited (NNPCL). The price of petrol has increased significantly, jumping from N897 to N1,030 per litre in Abuja and from N855 to N998 in Lagos. NLC President Joe Ajaero voiced strong objections, questioning why a private entity is determining fuel prices while the government has yet to enact the new minimum wage.
Ajaero criticized the government's tendency to raise prices without offering any mitigating measures for citizens, emphasizing that these hikes only exacerbate poverty and harm businesses. He called for a comprehensive economic strategy instead of temporary fixes.
Small business owners are particularly affected; Cornelius Onuorah, an entrepreneur, expressed concerns that rising operational costs could lead to the closures of many bakeries and other small enterprises. Public outrage has been palpable, with many Nigerians taking to social media to vent their frustrations, describing the government's actions as uncaring and demanding accountability.
Long queues have formed at fuel stations across Lagos and Abuja as consumers adjust to the new pricing. The situation raises alarms about the broader economic impact, as rising fuel costs strain household budgets and diminish purchasing power. As of now, the NNPCL has not released an official comment regarding the price changes.
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