The Nigeria Labour Congress on Monday, issued a warning that a nationwide strike could begin suddenly if fuel marketers raised petrol prices without finalizing ongoing negotiations, even without prior formal notice.
The labor union cautioned that it would initiate the strike without prior notification. NLC’s national president, Comrade Joe Ajaero, delivered this warning in Abuja during a gathering of the African Trade Union Alliance.
The warning from the organized labor came in response to indications from oil marketers on Sunday. They suggested that the price of Premium Motor Spirit, commonly referred to as petrol, might increase to a range of N680/litre to N720/litre in the upcoming weeks if the parallel market exchange rate remains between N910 and N950 for the dollar.
Ajaero said: “As we are here now, they are contemplating increasing the pump price of petroleum products, and the ministry of labour for some time now would only go to the Ministry of Justice to come up with a so-called injunction to hold the hands of Labour not to respond.
But let me say this, Nigerian workers will not give any notice if we have not addressed the consequences of the last two increases and we wake up from our sleep to hear that they have tampered with the prices again.”
“They have started floating ideas of a likely increase in the pump price of petroleum products.
Ajaero mentioned that there were alleged intentions to raise the petrol pump price even further, a move that he lamented would lead to more hardships for Nigerians, a situation he found deeply concerning.
“I want to plead with the government that those bad economic policies that make our wages next to nothing, should be checked. If you check those policies that lead to inflation, and devaluation of the currency, we will be comfortable even where we are. if the naira is at par with the dollar today, we will ask you to leave the minimum wage at 30,000″, he added.
He said, If inflation is brought down to zero, the union will request that the current situation is maintained. However, inflation is soaring, and according to the National Bureau of Statistics, with more than 133 million Nigerians who are multi-dimensionally poor.
Ajaero insisted that these are the matters the Government ought to tackle.
“If we go for wage increase tomorrow, the inflation that will follow suit will destroy it,” he noted
Meanwhile, the marketers explained that those intending to import PMS were compelled to postpone their plans due to the shortage of foreign exchange needed for importing the product.
While NNPC Limited has not officially declared any rise in fuel prices, certain media reports have hinted at a potential increase to N720.
Oil traders noted that the foreign exchange window managed by the CBN for Importers and Exporters, known for its lower exchange rate of approximately $740/litre, has faced liquidity issues. As a result, it has been incapable of supplying the $25 million to $30 million necessary for fuel dealers to import PMS.