The Nigeria Labour Congress (NLC) along with various civil society organizations have charged the Federal Government and petroleum industry players with exacerbating the difficulties faced by Nigerians through ongoing petrol price hikes.
They criticized the government’s regulatory bodies for not safeguarding consumers from what they termed exploitation within the downstream petroleum sector.
In response to the recent surge in petrol prices nationwide, NLC Assistant General Secretary Chris Onyeka claimed that influential groups are working against the interests of ordinary Nigerians.
“There is a coalition against the Nigerian populace by the elite, unfortunately with what seems to be the backing of the ruling class,” Onyeka remarked.
He pointed out that the rise in fuel prices is hard to rationalize, particularly since crude oil prices have remained fairly stable and the exchange rate has improved in recent months.
“The only rationale for raising petroleum product prices can be viewed through the lens of capitalist greed and monopolistic advantages,” he asserted.
Onyeka cautioned that the concentration of power among a few major players in the industry is fostering an environment for arbitrary price hikes, noting that government regulators have been “alarmingly quiet.”
He also contended that Nigeria will continue to experience fuel price fluctuations until local refineries, especially those owned by the government, are fully operational.
Supporting the NLC’s stance, the Civil Society Legislative Advocacy