Organized Labour issued a stern warning to the Federal Government yesterday, cautioning against the repercussions of the recent hike in petrol prices. The rise, which has compounded economic hardships, has left many Nigerians struggling and at risk of reacting unexpectedly, as per Labour's statement. They likened the growing discontent to "a goat biting when pushed to the wall," highlighting that the patience of Nigerians is wearing thin.
The Chemical and Non-Metallic Products Employers Federation (CANMPEF) echoed these concerns, pointing out the burden placed on households and manufacturers by the price increases resulting from subsidy removal. The organization noted the surge in production and logistics costs, alongside a decline in household purchasing power, further straining the manufacturing sector and the broader economy.
Additionally, the Independent Petroleum Marketers Association of Nigeria (IPMAN) pointed to issues surrounding access to petrol supplies, despite having made substantial payments to the Nigerian National Petroleum Company Limited (NNPCL). IPMAN's President, Abubakar Garima, stated that his members could reduce pump prices if allowed to purchase petrol directly from Dangote Refinery. Despite N40 billion in deposits, many marketers reportedly face prolonged wait times at the refinery, fueling frustrations within the sector.
The Nigerian Labour Congress (NLC), led by Joe Ajaero, emphasized the urgency of addressing economic issues affecting Nigerians, noting that high electricity tariffs and soaring petrol prices are plunging citizens deeper into hardship. Ajaero called on the government to prioritize the reactivation of public refineries and to review salary structures to counteract inflation.
Labour leaders urge the government to shift away from what they describe as anti-people policies, aiming instead to foster stability and improve the nation’s economic environment to avoid unforeseen unrest.
