Petrol Prices Hit ₦1,150 Nationwide, NLC Calls for Urgent Action

The Nigeria Labour Congress (NLC) has condemned the recent increase in petrol prices, describing it as a display of insensitivity toward the plight of the masses. Speaking on Sunday, the Deputy President of NLC Political Commission, Prof. Theophilus Ndubuaku, expressed dissatisfaction with the government’s decision to implement the hike without prior consultation with key stakeholders, including labour unions, the private sector, and student organizations.

Ndubuaku criticized the policy, labeling it “Tinubunomics,” and questioned its sustainability. He argued that removing subsidies without implementing effective alternatives, such as the promised Compressed Natural Gas (CNG) buses, exacerbates the economic challenges faced by Nigerians.

“This increase in petrol prices goes beyond foodstuff and transportation costs; it fuels inflation and further devalues the naira. Subsidies exist in many countries, including those producing the goods we import. Refusing to subsidize fuel while failing to provide viable alternatives like CNG conversion shows a lack of commitment to the people’s welfare,” Ndubuaku said.

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He also accused the government of excluding citizens from critical policy discussions and urged President Bola Tinubu to emulate former President Olusegun Obasanjo’s approach of holding monthly stakeholder roundtable meetings on matters affecting workers’ welfare.

The announcement came as Dangote Petroleum Refinery and other depot operators raised petrol prices to between ₦1,050 and ₦1,150 per litre. Dealers noted that rising crude oil prices have driven up production costs, contributing to the continuous increase in fuel prices.

A spokesperson for Dangote Group justified the adjustments, citing the global rise in crude oil prices. “At Dangote Petroleum Refinery, we are committed to providing affordable fuel while ensuring quality. Despite the recent 15% surge in global crude oil prices, we limited our ex-depot price adjustment to just 5%, from ₦899.50 to ₦950 per litre. Additionally, the Single-Point Mooring ex-vessel price remains at ₦895 per litre,” the spokesperson explained.

Dangote Group also confirmed an agreement with MRS, Ardova, and Heyden to standardize the price of petrol at ₦970 per litre across all 36 states and the Federal Capital Territory. The company stated that it absorbed increased logistics costs to maintain uniform pricing nationwide.

The NLC has called for urgent dialogue between the government and stakeholders to address the situation, warning that the continued price hikes will deepen economic hardship for Nigerians and erode public trust in the administration.