The Nigeria Labour Congress has urged the Federal Government to introduce reasonable wage for workers as part of measures to cushion the impact of rising petrol prices and worsening economic hardship.
The NLC also called on the government to make sufficient crude oil available to local refineries in naira and expand the country’s strategic petroleum storage capacity to strengthen energy security.
The labour centre made the demands in a statement by its President, Comrade Joe Ajaero, titled, “Save the Situation Now,” amid a fresh surge in petrol prices across the country.
The NLC said petrol was selling for as much as N1,430 per litre in major cities where the product was readily available, while prices were higher in less accessible areas.
It warned that the rising cost of petrol and transportation would trigger further increases in the prices of food, school fees, rents, tariffs and other essential goods and services.
“These new costs continue to inflict or deepen poverty among the populace, stressing the quality of life to the limits,” the NLC said.
The labour centre noted that the latest price surge came when government pressure on petroleum marketers to reduce pump prices in line with international crude oil prices appeared to be yielding results.
It, however, argued that renewed conflict in the Gulf should not leave Nigeria, an oil-producing country, exposed to external shocks.
The NLC said the proposed measures would create jobs, generate economic value and help address emerging security challenges.
“There is nothing wrong with government subsidising the needs of citizens, especially in emergency situations like this,” it said.
It noted that oil-producing countries had introduced various interventions and palliatives to protect their citizens from the impact of the crisis.
The labour centre also said that the government was earning between $35 and $40 per barrel above the crude oil price benchmarked in the national budget.
According to the NLC, the additional revenue translates to trillions of naira monthly and should be regarded as a windfall that could be deployed to protect citizens from worsening economic pressure.
The NLC further called for increased national storage capacity as part of measures to prepare for energy emergencies and strengthen energy security.
On the long-term outlook, the labour centre criticised the continued importation of crude by local refineries, describing the practice as unreasonable and contrary to the purpose of developing domestic refining capacity.
The NLC also warned the Federal Government against allowing petroleum marketers to impose further hardship on Nigerians in the name of deregulation.
It said the government, which is seeking re-election in the next few months, could not afford to ignore the impact of rising petrol prices on citizens.
“A government that seeks re-election in the next few months cannot afford to stand and watch marketers inflict suffering on the citizenry in the name of deregulation,” the NLC said.
It added that organised labour had an obligation to speak out or take appropriate action over the worsening petrol price situation.
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