The President of the Nigeria Labour Congress (NLC), Joe Ajaero, has condemned the Federal Government for its recent increase in the pump price of fuel, asserting that it further exacerbates the economic struggles faced by Nigerians.
Ajaero expressed his discontent during a statement on Wednesday, highlighting that the government’s primary action appears to be raising fuel prices without implementing effective measures to alleviate the burden on citizens. “It looks like the only thing this government is known for is the increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures,” he stated.
He criticized the Nigerian National Petroleum Company Limited (NNPCL) for fixing fuel prices, labeling it a “hegemonic monopoly” that operates outside the principles of market forces. Ajaero urged the government to develop a comprehensive plan for inclusive economic growth and national development rather than relying on inconsistent and temporary palliative measures.
Ajaero noted that the recent price hike has disrupted the financial stability of Nigerians, who were just beginning to adapt to their new economic realities. He warned that the increase would further entrench poverty, lead to diminished production capacities, and result in more job losses, creating a ripple effect of negative consequences across the economy.
In light of these challenges, Ajaero called for an immediate reversal of the fuel price increase, emphasizing that previous hikes had not yielded positive outcomes, but rather intensified the hardships faced by the populace. “People only got poorer,” he lamented. He concluded by urging the government to clearly communicate its vision for the country’s economic trajectory to the citizens.
