NLC Urges Government Action as Petrol Prices Hit N1,300

The Nigeria Labour Congress (NLC) has requested the Federal Government's urgent intervention following a significant increase in petrol prices, which have surged from N1,230 to N1,300 per liter across Nigeria. NLC President Joe Ajaero stated that this sharp rise in petrol prices is worsening the economic hardships faced by Nigerian workers, particularly due to increased transportation costs and the subsequent rise in food prices, leading to an overall increase in the cost of living.

Ajaero emphasized the need for the government to introduce immediate relief measures to cushion the impact of the fuel price hike on vulnerable workers and citizens. He called for wage support initiatives and tax relief for low-income earners, as well as the expansion of social support programs targeting the most vulnerable Nigerians to mitigate the harsh economic conditions.

The current situation also highlights vulnerabilities within Nigeria's downstream petroleum sector, influenced by fluctuations in the global oil market, particularly amid rising crude oil prices due to geopolitical tensions in the Middle East.