NLC Demands Cost-of-Living Allowance Amid Oil Crisis

The Nigeria Labour Congress (NLC) has called on the federal government to urgently introduce relief measures to mitigate the impact of the recent spike in petrol prices, which currently range from ₦1,170 to ₦1,300 per liter. NLC President Joe Ajaero emphasized the necessity of immediate interventions, including the introduction of a cost-of-living allowance (COLA), wage awards for workers, and tax relief for low-income earners.

The NLC's statement, titled "Save Nigeria from Shock," warns that failure to act could trigger serious social unrest. The labor union criticized the government for leaving Nigerians vulnerable to fluctuations in global oil prices, exacerbated by geopolitical tensions in the Middle East.

The NLC also highlighted the need to rehabilitate the country’s state-owned refineries, including those in Port Harcourt, Warri, and Kaduna, to stabilize fuel prices. The union argues that Nigeria's reliance on imported refined petroleum products exposes the economy to international price volatility, necessitating structural reforms to protect citizens from economic shocks.