Tension Rise As Labour Reacts Angrily To Petrol Price Details

The Nigeria Labour Congress (NLC) has called for a further reduction in the pump price of Premium Motor Spirit (petrol), stating that the recent decrease to ₦935 per litre is still unsatisfactory.....KINDLY READ THE FULL STORY HERE▶

Dangote Petroleum Refinery, in collaboration with MRS, recently announced a reduction in petrol prices to ₦935 per litre. Before this adjustment, the price was over ₦1,030 per litre in Lagos and surrounding areas, and above ₦1,060 per litre in Abuja and Northern states.

However, the NLC maintained on Monday that petrol prices should drop even further. Speaking to Punch, NLC official Chris Onyeka rejected any praise for the Federal Government and the Nigerian National Petroleum Company Limited (NNPC) for the recent price reduction.

He argued that the current pricing structure does not accurately reflect the true cost of petrol. “Do you want us to clap for them? How can we be okay with a price of ₦935 per litre? This is not the right price for PMS. You cannot base the price on imported products when we have refining capacity in Nigeria,” he said.

Onyeka pointed out that the current pricing structure includes costs such as foreign labour, freight charges, insurance, logistics, and profits made abroad, which unfairly burden Nigerians. “Products are refined in Nigeria, yet the price you give Nigerians is based on imported products. Why should we applaud that? It’s like someone stealing your money and returning only part of it, then expecting you to clap. We cannot applaud this,” he argued.

He emphasized that the true price of petrol should be based on the actual cost of refining it domestically, particularly in local refineries like the Port Harcourt refinery. “We need to know how much it costs the NNPC to refine a litre of PMS in our local refineries. That is the price Nigerians should be paying,” he stressed.

Onyeka urged the government to prioritize the welfare of Nigerians by ensuring that fuel prices reflect local realities. “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 reflects the growing discontent among Nigerians over the rising cost of living, with fuel prices being a major contributor to inflation and economic hardship.

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