NLC Seeks Wage Awards, Naira Crude Allocation as Petrol Price Hits N1,430/L

By Adedapo Adesanya

The Nigeria Labour Congress (NLC) has urged the federal government to introduce emergency wage awards for workers and allocate crude oil to local refineries in naira as petrol prices rise to about N1,430 per litre in major cities.

In a statement titled Save the Situation Now, NLC President Joe Ajaero said the increase in petrol prices would deepen economic hardship by pushing up transportation costs and, consequently, the prices of food, rent, school fees, tariffs and other essential goods and services.

Mr Ajaero said the latest price surge was linked to the resurgence of conflict in the Gulf, but argued that Nigeria, as an oil-producing country with local refining capacity, should have measures in place to shield households and businesses from external shocks.

“We are seriously concerned by the rising cost of the pump price of petrol across the country. In mega cities where petrol is readily available, the cost ranges from N1,430. In less accessible areas, the cost is much worse. This has inflicted incalculable damage not only on wages but also on our state of being as a people and as a nation,” he added.

He called on the government to immediately introduce reasonable wage awards for workers, sell sufficient crude oil to local refineries in naira and expand national petroleum storage capacity to strengthen the country’s energy security.

The NLC president also argued that government intervention, including subsidies, was justified during emergencies, saying such measures could protect citizens while supporting job creation and economic activity.

According to him, the measures were particularly urgent because the federal government was currently earning an additional $35 to $40 per barrel above the budgeted crude oil price in the international market, which he said translated to trillions of naira in additional monthly revenue.

“These measures are all the more necessary and urgent because the government is making extra money in the international spot market, between USD35 and USD40 per barrel above the budgeted figure. This translates to trillions of naira a month. The government ought to be satisfied with this, as it is a windfall,’’ he noted.

Mr Ajaero questioned why the government would allow Nigerians to bear the full impact of rising fuel prices at a time when it was receiving the additional revenue.

He added that higher petrol prices were already eroding workers’ wages and worsening living conditions, warning that the continued rise could further deepen poverty across the country.