The Nigeria Labour Congress (NLC) has expressed strong disapproval of the recent increase in petrol pump prices, describing it as a grave act of insensitivity by the federal government. The hike, which raised the price of Premium Motor Spirit (PMS) to between ₦1,050 and ₦1,150 per litre, has sparked concerns over its impact on inflation, transportation costs, and overall economic stability.
Speaking on Sunday, the Deputy President of the NLC Political Commission, Prof. Theophilus Ndubuaku, criticized the decision, urging the government to engage key stakeholders before implementing policies that affect citizens’ welfare. “This hike will worsen food prices and transportation costs. It’s disappointing that discussions with representatives of workers, students, and the private sector were not held before this decision,” he stated.
The Dangote Petroleum Refinery, a major player in Nigeria’s oil sector, attributed the price increase to rising global crude oil prices. According to a statement by Dangote Group spokesperson Anthony Chiejina, the refinery adjusted its ex-depot price to ₦950 per litre to reflect the surge in crude prices, which have risen by 15% globally.
Chiejina emphasized that the refinery absorbed 50% of the cost increases to shield consumers from the full impact. “Without this adjustment, pump prices would have been as high as ₦1,200 per litre in some locations,” he noted. Dangote also announced plans to publish weekly pricing updates to promote transparency.
The NLC argued that such price adjustments should involve wider consultations and transparency. Ndubuaku referenced former President Olusegun Obasanjo’s administration, which regularly engaged stakeholders to discuss sensitive issues. “Policies affecting millions should not be decided unilaterally. We demand open dialogue and accountability,” he added.
Oil marketers, represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), denied allegations of exploitative practices. PETROAN President Dr. Billy Gillis-Harry explained that deregulation now ties petrol prices to market forces, including crude oil costs and exchange rates.
“Retailers cannot sell below cost. The fluctuations are dictated by external factors, not by marketers,” Gillis-Harry said, adding that the full deregulation of the petroleum sector means price stability is no longer guaranteed.
NLC Lagos Chairperson Sessi Funmi accused oil marketers of undermining government efforts to stabilize the sector and described them as “enemies of the masses.” She urged the government to eliminate middlemen in fuel distribution and leverage local refineries to reduce costs.
Funmi praised the federal government for reviving refineries in Port Harcourt and Warri and called for stronger measures to ensure fair pricing. “The government must act decisively to protect Nigerians from exploitative practices and ensure that the benefits of domestic refining reach the people,” she concluded.
As petrol prices continue to fluctuate, stakeholders across the sector are calling for enhanced transparency, collaboration, and solutions to mitigate the burden on Nigerians. The NLC warned that it would not hesitate to mobilize protests if the government fails to prioritize citizens’ welfare in its economic policies.
