The Nigeria Labour Congress (NLC) has called on the Federal Government to introduce immediate measures to ease the impact of rising petrol prices on workers and households.
The labour centre urged the government to approve wage awards for workers, make crude oil available to domestic refineries in naira and increase the country’s fuel storage capacity.
The demands were contained in a statement titled “Save the Situation Now” issued by NLC President, Joe Ajaero.
The NLC said the recent increase in petrol prices had worsened the cost of living, noting that higher transport fares also drive up the cost of food, rent, school fees and other essential services.
According to the union, petrol prices have reached about N1,430 per litre in major cities where the product is readily available, while consumers in less accessible locations face even higher prices.
The labour organisation attributed the latest pressure partly to the resurgence of conflict in the Gulf, but argued that Nigeria’s status as an oil-producing country and its local refining capacity should provide some protection from external price shocks.
It therefore urged the government to create a buffer against international oil market disruptions by supporting workers with wage awards and ensuring that domestic refineries can purchase crude in naira.
The NLC also called for an expansion of national petroleum storage facilities to strengthen the country’s ability to respond to energy emergencies and improve energy security.
The union said the proposed measures could support job creation, increase economic activity and help address security challenges.
It further argued that government intervention in the form of subsidies or other forms of support could be justified during an emergency, pointing to interventions adopted by other oil-producing countries during periods of economic pressure.
The NLC also said the government was benefiting from higher international crude prices, claiming that oil was trading between $35 and $40 per barrel above the level used in the budget.
It described the additional revenue as a windfall and urged the government to use part of the gains to protect citizens from the effects of rising energy costs.
