Kehinde Fajobi
The Nigeria Labour Congress (NLC) has criticised the recent rise in petrol prices, describing it as insensitive to the plight of Nigerians.
Speaking on Sunday, the Deputy President of the NLC Political Commission, Prof. Theophilus Ndubuaku, argued that such a decision should have involved stakeholders, including workers, students, and private sector representatives.
“In a saner clime, representatives of workers, the organised private sector, and students would have been called to a roundtable to deliberate on the course of action and analyse the consequences before the decision would be taken,” he said.
Ndubuaku expressed concern over the ripple effects of the hike on inflation, food prices, and transportation costs. He criticised the government’s approach, calling it “Tinubunomics,” and urged President Bola Tinubu to adopt more inclusive governance practices.
“Every month, under leaders like Olusegun Obasanjo, issues affecting workers were discussed at the Villa. We’re not saying you shouldn’t take action, but please carry people along,” he added.
Meanwhile, the NLC Lagos State Chairperson, Sessi Funmi, accused oil marketers of exploiting Nigerians and frustrating government efforts to stabilise the sector.
She said, “Marketers are the problem. They’ve been receiving subsidies without supplying products and now want to determine prices when they don’t even own refineries. Nigerians cannot continue to suffer due to their greed.”
Sessi commended Tinubu’s administration for reviving refineries in Port Harcourt and Warri, urging direct supply agreements to eliminate middlemen and ensure fair pricing.
The Dangote Refinery, in a separate statement, attributed the price hike to a 15% rise in global crude oil prices but emphasised that it had absorbed costs to mitigate the impact.
Spokesman Anthony Chiejina noted, “We made only a 5% adjustment to our ex-depot price from ₦899.50 to ₦950 per litre, significantly lower than the global increase. All our partners will retail petrol at ₦970 per litre nationwide.”
Petroleum marketers defended themselves, citing market forces and the global crude oil price as the main drivers of the hike.
PETROAN President Dr Billy Gillis-Harry explained, “Petrol prices are determined by market forces. Retailers should not be blamed for the increase.”
Marketers also highlighted exchange rate volatility and crude oil prices as key challenges affecting their operations, stressing the need for proper planning to avoid losses in the deregulated market.