ABUJA, Nigeria: The President of the Nigeria Labor Congress (NLC) has issued a warning of a potential nationwide strike if the current petrol price is raised.
Speaking at an African Trade Union Alliance gathering in Nigeria’s capital city, Abuja, NLC President Joe Ajaero stated that he would rally his members for an indefinite nationwide strike if petrol prices were to increase.
Ajaero emphasized that Nigerian workers would not provide advance notice to the government or officials if the price of petrol rises in the near future, criticising the Federal Ministry of Labor and Employment, accusing it of seeking injunctions from the Federal Ministry of Justice to deter labor from responding to fuel price hikes.
Amid recent indications from oil vendors that petrol prices might surge to over N700 per liter if the naira continues to depreciate against the dollar, the current price stands at N617 per liter in many regions of the country, with a slightly lower rate of N577 in Lagos.
The NLC has consistently voiced opposition to petrol price hikes, asserting that the government must involve workers in decisions regarding subsidy removal.
Meanwhile, the Nigerian National Petroleum Corporation (NNPC) Limited has sought to quell speculation by asserting that it has no plans to increase the pump price of petrol.
In a recent tweet, NNPC Retail assured customers that the company is committed to offering quality products at affordable prices across its nationwide retail stations.
However, media reports last week hinted at a potential price increase due to the continuous devaluation of the naira, which had reached an all-time low of N950 to the dollar in the parallel market by Thursday.
Oil marketers also weighed in on the matter, suggesting that petrol prices could rise to a range of N680/liter to N720/liter in the coming weeks if the dollar maintains its current trading range between N910 and N950 in the black market.
As speculation looms over potential price adjustments, concerns over the impact on consumers and the overall economy persist.