The Organised Labour has issued a resolute warning, asserting that any further increase in petrol pump price beyond the current 617 naira would result in a total, all-encompassing, and indefinite shutdown across the nation. The Labour Union deems such an increase as “illegal” and has emphasized its unwavering stance against it.
Labour’s Unity and Demands Highlighted at Alliance Meeting
NLC President, Joe Ajaero, conveyed this unequivocal message during the African Trade Union alliance meeting held in Abuja on Monday. While discussing labour concerns, the organised labour underscored its commitment to unity and vigilance, urging against any attempts to undermine the union’s demands.
Market Volatility and Forex Scarcity Impacting Petrol Price
Oil marketers have indicated the potential for further increases in the price of Premium Motor Spirit (petrol) to between N680/litre and N720/litre due to the instability of the parallel market exchange rate. The scarcity of foreign exchange for importing the commodity has impeded dealers’ plans, casting uncertainty over the pricing trajectory.
Labour’s Preemptive Measures and Presidential Interaction
In the backdrop of these concerns, organised labour previously postponed an indefinite strike slated for August 4, 2023, following discussions with President Bola Tinubu. The labour union’s measured approach reflects its commitment to constructive dialogue and resolution, while still asserting its readiness to take decisive action to protect citizens’ interests.
As the Nigerian economy grapples with fluctuating petrol prices and related implications, the labour union’s proactive stance reinforces the importance of addressing these concerns through sustained engagement and collaboration between all stakeholders.