The Nigeria Labour Congress (NLC) has urged the federal government to reverse the recent increase in fuel prices after the Nigerian National Petroleum Corporation Limited (NNPCL) set new prices.

In a statement signed by its president, Joe Ajaero, the NLC said that the federal government under President Bola Tinubu is mishandling fuel pricing.

The labour union stressed that previous fuel price hikes have not resulted in any positive outcomes for Nigerians, instead, it has worsened the financial strain on the population.

“We are dismayed by the latest increase in the pump price of petrol,” Ajaero said. “It appears that the only thing this government is known for is raising fuel prices without considering the capacity of Nigerians to cope or providing any mitigating measures.”

Ajaero further criticized the role of the NNPCL, stating, “Even following the logic of market forces, it is an aberration that a private company like NNPCL is fixing prices and projecting itself as a hegemonic monopoly. The government needs to return to the drawing board and provide a comprehensive plan for inclusive economic growth and national development, rather than relying on erratic policy decisions and palliative measures.”

The NLC warned that the latest fuel price hike has drastically impacted Nigerians, deepening poverty, reducing production capacity, and causing further job losses. Ajaero urged the government to reverse the increase, as previous hikes have only exacerbated poverty, without yielding any economic benefits.

He concluded by challenging the government to clearly outline its long-term plans for the country, saying, “The government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”