The President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, has called on the Federal Government to take urgent measures to address the rising cost of petrol across the country.

Ajaero, in a statement titled “Save the Situation Now,” expressed concern over the increasing pump price of petrol, saying it was worsening the economic hardship faced by Nigerians.

He noted that petrol was selling for about N1,430 per litre in major urban centres, while prices were significantly higher in less accessible areas.

According to him, the increase in petrol prices has far-reaching consequences, particularly as higher transportation costs typically lead to increases in the prices of food, school fees, rent and other essential goods and services.

“These new costs continue to inflict or deepen poverty among the populace, stressing the quality of life to the limits,” Ajaero said.

The NLC president said the latest increase came at a time when efforts by the government to encourage marketers to reduce petrol prices in line with declining international crude oil prices were beginning to yield results.

He acknowledged that the latest surge was partly linked to the resurgence of conflict in the Gulf but argued that Nigeria’s status as an oil-producing country should provide some protection against international market shocks.

Ajaero also pointed to Nigeria’s local refining capacity, particularly within the private sector, as an opportunity for the country to reduce its vulnerability to international disruptions.

He urged the Federal Government to introduce immediate measures, including reasonable wage awards for workers, the sale of sufficient crude oil in naira to domestic refineries, and an expansion of national petroleum storage capacity to strengthen energy security.

According to him, such measures would not only cushion the impact of rising petrol prices but could also create jobs, generate economic value and address emerging security challenges.

Ajaero further argued that government intervention, including subsidies where necessary, should not be ruled out during an emergency.

“There is nothing wrong with government subsidising the needs of citizens, especially in emergency situations like this,” he said.

He also claimed that Nigeria was currently benefiting from higher international crude oil prices, with prices reportedly $35 to $40 per barrel above the budget benchmark, which he said could translate into additional government revenue running into trillions of naira monthly.

The NLC president urged the government to consider the additional revenue as a windfall and use part of it to cushion the impact of rising energy costs on Nigerians.

On the long-term outlook, Ajaero criticised the situation in which domestic refineries allegedly have to import crude oil, describing it as inconsistent with the objective of developing local refining capacity.

“We are of the view that a government that seeks re-election in the next few months cannot afford to stand and watch marketers inflict suffering on the citizenry in the name of deregulation,” he said.

He added that organised labour had a responsibility to speak out and take appropriate action where necessary over policies that further increase economic hardship.