The Nigeria Labour Congress (NLC) has strongly criticized the federal government following the recent increase in the price of Premium Motor Spirit (petrol), demanding an immediate reversal. On Wednesday, the Nigerian National Petroleum Company (NNPC) Limited announced a fresh hike across its retail outlets, sparking public outcry.

NLC President Joe Ajaero, in his response, expressed deep disappointment, noting that the government continues to raise petrol prices almost every month, yet it has not introduced a new minimum wage to cushion the impact on citizens.

Ajaero questioned why a private entity like NNPC holds the authority to set fuel prices, describing it as a “hegemonic monopoly.” He emphasized that the latest increase has exacerbated the financial struggles of Nigerians, many of whom are already grappling with the nation’s economic challenges.

In his warning, Ajaero stressed that the price hike would further entrench poverty, reduce production levels, and lead to job losses. He urged the government to reverse the hike and to focus on providing a comprehensive, inclusive economic plan instead of relying on short-term measures that fail to address the root causes of the nation’s economic woes.