LAGOS, NIGERIA – Organised Labour, manufacturers, and economists have jointly called for urgent government intervention as the price of Premium Motor Spirit (petrol) skyrockets to N1,400 per litre in many parts of the country.
The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) described the price hike as unsustainable, warning that it would trigger mass job losses and further impoverish Nigerian workers. Manufacturers, through the Manufacturers Association of Nigeria (MAN), lamented that production costs have become prohibitive, forcing some companies to scale down operations.
“This trajectory is dangerous. The government cannot fold its arms and watch the economy bleed,” an NLC official stated.
Economists urged the federal government to consider targeted palliatives, tax relief for businesses, and a comprehensive review of the downstream petroleum sector to address the root causes of the persistent price volatility.
The Nigerian National Petroleum Company Limited (NNPCL) has yet to issue an official statement on the development. Meanwhile, long queues have resurfaced at filling stations in major cities, compounding the hardship for commuters and businesses alike.
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