NLC, TUC Threaten Nationwide Shutdown over Looming Fuel Price Hike

Patrick OdeyAugust 15, 2023

1 minute read

Nigerians may soon face another round of fuel scarcity and hardship as the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have warned of a possible nationwide shutdown if the government allows the price of petrol to increase again.

The labour unions issued the warning at a meeting in Abuja, where they condemned the move by some oil marketers to hike the price of petrol from the current N617 per litre to as high as N750 per litre, citing the depreciation of the naira against the dollar.

The National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chief Chinedu Ukadike, had earlier stated that the price of petrol was now determined by the fluctuations in the foreign exchange market, which had seen the dollar rise to over N900 in recent weeks.

Ukadike also claimed that oil marketers were still sourcing dollars from the black market, as they could not access the official window of the Central Bank of Nigeria (CBN) easily.

He said that Nigerians should brace for a price regime of between N680 to N720 if the exchange rate stays around N910 to N950 per one dollar, but the price could hit N750 once it reaches N1,000.

However, the NLC President, Comrade Joe Ajaero, described the move by IPMAN as “illegal” and vowed to resist any attempt to increase the price of petrol, which he said would worsen the already unbearable economic situation of Nigerians.

Ajaero said that the NLC and its allies would embark on a total, comprehensive and indefinite nationwide shutdown of the country, should there be another increase in petrol pump price. He also warned against any attempt to undermine or sabotage the demands of the labour movement.

The labour leader urged the government to intervene and stop IPMAN from exploiting Nigerians, saying that the government had a responsibility to protect the masses from profiteering and extortion by oil marketers. He also called for a review of the deregulation policy, which he said had failed to deliver on its promises of lower fuel prices and improved supply.