NLC Condemns ₦95 Fuel Price Reduction, Slams FG Over Rising Cost of Living, Inflation, Hardship

The Nigeria Labour Congress (NLC) has criticized the Federal Government following its continued failure to provide affordable Premium Motor Spirit (petrol) for Nigerians despite the country refining the product locally.

In a Monday interview monitored by this platform, a senior official of the Nigeria Labour Congress, Chris Onyeka, while sharing the union’s reaction to the recent reduction in the pump price of petrol stated that the labour union would not appreciate such reduction, stressing that it does not reflect the current reality in the country.

It should be recalled that Dangote Petroleum Refinery, after signing an agreement with MRS Oil announced a reduction in petrol price to ₦935/litre reflecting a ₦95 reduction from the previous ₦1,030/litre.

Similarly, the Independent Petroleum Marketers Association of Nigeria (IPMAN), on Sunday, announced that its members will sell petrol at ₦935 per litre, down from the previous prices of ₦1,025 and ₦1,065 per litre.

This announcement was made by the IPMAN National Publicity Officer, Chinedu Ukadike, who disclosed that the union’s decision follows the reduction of the ex-depot price as a result of pricing competition between NNPC and the Dangote refinery.

Reacting to this development, the NLC tagged the price reductions, not satisfactory.

Onyeka said, “Do you want us to clap for them? How can we be okay with a price of N935/litre of PMS? This is not the right price for PMS. You cannot base the price on imported products when we have refining capacity in Nigeria.”

He continued, “Products are refined in Nigeria, yet the price you give Nigerians is based on imported products. Why should we applaud that? It is akin to someone stealing your money and returning only part of it, then expecting you to clap. We cannot applaud this.”

The NLC demanded that Nigerians should be informed on the cost of refining petrol locally, stressing that this module should be used to determine the pump price of the product.

He stated: “We need to know how much it costs the NNPC to refine a litre of PMS in our local refineries, such as the Port Harcourt refinery. That is the price Nigerians should be paying.”

Criticizing the government for the hardship faced by Nigerians, he concluded: “This country belongs to all Nigerians. Let the government do the right thing that allows Nigerians to breathe. Let the poor breathe. The NLC’s position underscores growing discontent among Nigerians over the rising cost of living, with fuel prices being a major contributor to inflation and economic hardship.”