The Nigeria Labour Congress (NLC) has strongly criticised the recent rise in petrol prices, describing it as an act of insensitivity towards the masses.
This rebuke follows the significant increase in pump prices, which saw petrol prices surge to between N1,050 and N1,150 per litre after the Dangote Petroleum Refinery and other depot owners raised their prices.
Speaking on Sunday, the NLC’s Deputy President for Political Affairs, Prof. Theophilus Ndubuaku, expressed his discontent, pointing out that the government’s decision to hike prices without consulting relevant stakeholders, including workers and the private sector, was deeply troubling. According to Ndubuaku, such decisions should be made in a transparent manner, involving discussions with workers’ representatives before any implementation.
“This price hike will affect everything—food, transport, and the already inflated cost of living,” Ndubuaku said. He added that the government’s economic policies, which he termed “Tinubunomics,” lacked sufficient consideration for the welfare of ordinary Nigerians. He argued that even nations with far more robust economies still provide fuel subsidies to shield their citizens from undue hardship.
Further criticizing the lack of engagement, Ndubuaku emphasized that, in a more consultative environment, former leaders like Olusegun Obasanjo would regularly host roundtable discussions with key stakeholders before making sensitive decisions that could affect the economy.
Labour Accuses Oil Marketers of Exploiting Nigerians
The NLC’s criticism was also directed at oil marketers, who they accuse of manipulating prices and exacerbating Nigeria’s economic woes. Sessi Funmi, the Chairperson of the NLC in Lagos, denounced oil marketers as “enemies of the masses,” claiming that they were responsible for inflating petrol prices under the guise of rising crude oil costs. Funmi questioned the logic of marketers pushing prices higher, despite the fact that they don’t directly purchase crude oil, but instead acquire the finished product.
“The marketers are exploiting Nigerians. They manipulate the system to their advantage,” Funmi stated. She also praised the efforts of President Bola Tinubu’s administration for reviving the country’s refineries in Port Harcourt and Warri, noting that this should lead to lower prices at the pump, if marketers do not sabotage these initiatives.
She called for greater transparency and accountability in the petroleum sector, urging the government to bypass middlemen and directly deal with suppliers to curb corruption and ensure fairer pricing.
Dangote Refinery Responds to Criticism
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In response to the mounting backlash, the Dangote Petroleum Refinery clarified its position, denying responsibility for the recent price hike. In a statement issued by spokesman Anthony Chiejina, Dangote Group explained that while they had made a five per cent increase in their ex-depot price, this adjustment was in line with the 15 per cent rise in global crude oil prices. The refinery, which supplies a significant portion of Nigeria’s petrol, emphasized that it had absorbed much of the logistics cost to maintain price consistency across the country.
Chiejina explained that the price adjustment for Dangote’s PMS was from N899.50 to N950 per litre, with retail prices set at N970 per litre nationwide. “While the price increase is a response to the surge in global crude prices, we remain committed to offering quality and affordable fuel to Nigerians,” he added.
Despite the price adjustment, Dangote refinery emphasized its commitment to mitigating the impact on Nigerians, absorbing half of the cost increase to ensure that the effects on consumers are minimized.
Looking Ahead: Tensions Rise as Prices Continue to Climb
As petrol prices continue to climb, the NLC, oil marketers, and the Nigerian government remain at odds over the best course of action. With the rising cost of living becoming a pressing issue, many Nigerians are voicing their frustrations, calling for more equitable and transparent policies that prioritize their well-being over corporate profit.
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