The leadership of the Nigeria Labour Congress (NLC), on Wednesday, lampooned the federal government over fresh hike in price of Premium Motor Spirit popularly known as petrol.
The labour movement specifically demanded immediate reversal of the fuel price, saying it is illogical that a private firm is the one determining the prices of the products.
It was reported how the NNPCL announced fresh increase in price of fuel on Wednesday from N898 to over N1030. Reacting to the development, the President of NLC, Joe Ajaero, wondered why the federal government continues to jack up the price of virtually every month even when the minimum wage was yet to be implemented.
He said, “We are dismayed by the latest increase in the pump price of petrol. It looks like the only thing this government is known for is increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.
Even following the logic of market forces, we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly.
We challenge the government to go to the drawing board and present us with a blueprint for an inclusive economic growth and national development instead of this spasmodic ad hocism and palliative policy. It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities.
It will further deepen poverty as production capacities dip, more jobs lost with multidimensional negative effects. In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good result. People only got poorer. But more fundamentally, the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”
