The Nigeria Labour Congress (NLC) has issued a warning that a nationwide strike will be initiated without formal notice if petrol marketers increase the pump price of fuel without concluding ongoing negotiations. The NLC President, Joe Ajaero, urged the Federal Government to address the depreciating value of the naira.
Oil marketers indicated that the cost of Premium Motor Spirit (PMS), commonly known as petrol, might rise to N680 to N720 per litre in the coming weeks if the dollar continues to trade between N910 and N950 in the parallel market. This statement came after the naira crossed the N900/dollar threshold, trading at over N945/dollar at the parallel market.
The organized labor has been in discussions with the government about the possibility of a petrol price hike and other economic concerns. The Federal Government had secured a court injunction against a previous strike attempt by the NLC. Despite the court order, the NLC organized nationwide protests in August to express its discontent.
During a meeting, Ajaero advised the government to address harmful economic policies that have weakened workers’ wages and led to inflation and currency devaluation. He stressed that any wage increase would be undermined by high inflation. Ajaero also criticized the police for interfering in labor matters, including the reported arrest of the president of the National Union of Road Transport Workers.