Nigerians May Face Petrol Prices of N5,000 per Litre, Warns NLC

The Nigeria Labour Congress (NLC) has expressed deep concern that Nigerians could face petrol prices as high as N5,000 per litre. Benson Upah, the NLC spokesperson, voiced this fear in a recent interview with Daily Trust. He revealed that the NLC plans to convene a meeting with its leadership to discuss the issue and take decisions that would best serve the interests of its members and the broader public.

“The mood within the NLC is one of anger, which mirrors the general sentiment across the country. Apart from the top 1% who are insulated by the state, every other Nigerian is struggling,” Upah said.

He expressed disappointment over the recent increase in fuel prices, describing it as a betrayal by the government. Upah recalled a previous negotiation where the President offered either a raise in the minimum wage to N250,000 with fuel prices rising to N1,500 or N2,000, or maintaining the current minimum wage with no change in fuel prices. The labour leaders, prioritizing the well-being of ordinary Nigerians, rejected the offer, fearing its impact on the public.

“This situation extends beyond just minimum wage concerns; it affects every Nigerian. Since the initial fuel price hike in May 2023, Nigerians have been struggling to adapt to the skyrocketing costs of essentials like education, transportation, and food,” Upah continued.

He questioned the rationale behind the continued price increases, stating that despite the removal of fuel subsidies, prices should have stabilized. “Nigerians might not have seen the worst yet. We could end up paying N5,000 per litre if this trend continues. The final decision will ultimately rest with the Nigerian people,” Upah concluded.