The Nigeria Labour Congress has expressed disapproval of the recent increase in pump prices of Premium Motor Spirit, commonly known as petrol, describing it as a significant insensitivity toward the masses.
Senior NLC officials voiced their concerns in separate interviews, while oil marketers denied responsibility for the recent uptick in PMS prices nationwide.
The Dangote Petroleum Refinery also stated that the rise in petrol price was attributed not to its $20 billion Lekki-based plant but to an increase in crude oil costs, the primary component for refined petroleum products.
On Friday, pump prices of petrol surged to between N1,050 and N1,150 per litre, following a price hike by the Dangote Petroleum Refinery and various depot owners. Dealers confirmed that PMS prices would continue to rise due to the upward trend in crude oil prices.
Reacting to this, the Deputy President of Nigeria Labour Congress Political Commission, Prof. Theophilus Ndubuaku, argued that in a more reasonable setting, representatives of workers, the organized private sector, and students would be invited to discuss the implications of such decisions before they are made.
He stated, “This pump price hike will not only affect foodstuff and fare. There is the problem of inflation and the value of the naira to contend with. Instead, we are witnessing what we call Tinubunomics, which is untested.”
Ndubuaku continued to emphasize the need for inclusivity in governance, suggesting that President Bola Tinubu should adopt a collaborative approach similar to that of former leaders like Olusegun Obasanjo, who held monthly roundtables with stakeholders on sensitive issues related to workers’ welfare.
He criticized the current administration for not involving the masses in decision-making processes, stating, “You can’t just keep changing prices without any regard for us. This is what is causing all this frustration.”
The Chairperson of the Nigeria Labour Congress in Lagos State, Sessi Funmi, accused oil marketers of being major contributors to Nigeria’s economic challenges, labeling them as “enemies of the masses.” She asserted that the recent reduction in petrol prices had disrupted exploitative practices among marketers.
Funmi urged the government to emulate the Dangote refinery’s direct supply model to ensure fair pricing and eliminate corrupt middlemen.
In response, the Dangote refinery clarified that it had agreed with its partners to sell PMS at the rate of N970 per litre nationwide, absorbing increased logistics costs to maintain uniform pricing across the country.
The refinery’s spokesman, Anthony Chiejina, emphasized the commitment to providing reliable fuel at competitive prices, stating that the recent adjustment was necessary due to a significant increase in global crude oil prices.
In light of the current situation, marketers reiterated that they should not be held accountable for the instability in petrol prices, attributing fluctuations to international crude oil prices and exchange rates.
The National President of PETROAN, Dr. Billy Gillis-Harry, noted that petrol prices are now determined by market forces, indicating that both the government and the Nigerian National Petroleum Company Limited no longer set prices.
As a result, he stated that refinery operators would respond to changes in crude oil prices, which would subsequently affect retailers and consumers.
