By Opeyemi Adelakun
The Nigeria Labour Congress has called on the Federal Government to introduce fresh measures to cushion workers and households from the impact of rising petrol prices, including wage awards and the sale of crude oil to local refineries in naira.
The NLC also urged the government to expand the country’s petroleum storage capacity to strengthen its ability to respond to energy emergencies and improve national energy security.
The demands were contained in a statement titled “Save the Situation Now,” issued by NLC President, Joe Ajaero.
The labour centre expressed concern over the rising pump price of petrol, saying the increase was worsening pressure on household incomes and the broader economy.
According to the NLC, petrol prices in major cities where the product is readily available have risen to about N1,430 per litre, while prices are higher in areas with limited access.
The congress said the impact of rising fuel costs extends beyond transportation, noting that higher transport expenses eventually affect the prices of food, school fees, rent and other essential services.
“These new costs continue to inflict or deepen poverty among the populace, stressing the quality of life to the limits,” the statement said.
The NLC attributed the latest pressure partly to the resurgence of conflict in the Gulf but argued that Nigeria, as an oil-producing country, should have mechanisms to shield citizens from external shocks.
It said the country had sufficient local refining capacity, with much of it in private hands, and therefore urged the government to make better use of domestic crude resources.
“As part of the process of creating this buffer, we urge the government to immediately give reasonable wage awards to workers; sell sufficient crude in naira to our local refineries; and expand our national storage capacity in pursuance of meeting energy emergencies and security,” the NLC said.
The labour body argued that such measures would support employment, create economic value and help address emerging security challenges.
It also maintained that government intervention through subsidies or other forms of support should not be ruled out during exceptional economic circumstances.
“There is nothing wrong with the government subsidising the needs of citizens, especially in emergency situations like this,” the statement said.
The NLC further argued that the government’s increased earnings from international crude prices provided room for intervention, claiming that oil prices were between $35 and $40 per barrel above the level projected in the budget.
It described the additional earnings as a windfall that should be used to provide relief to Nigerians.
The congress also called for stronger national fuel reserves, saying increased storage capacity would improve Nigeria’s preparedness for disruptions in petroleum supply.
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