Over the weekend, the Nigeria Labour Congress (NLC) and former Vice President Atiku Abubakar expressed concern over the federal government’s increase in petrol prices, now ranging between N855 and N1,000 per liter. They warned that this hike is pushing Nigerians to their limit.
The NLC called for collective action, encouraging Nigerians to resist the petrol price hike, while Atiku cautioned that the increase, along with a proposed hike in Value Added Tax (VAT) from 7.5% to 10%, will further strain the economy and deepen the cost-of-living crisis.
Additionally, human rights lawyer Femi Falana urged the government to complete refinery rehabilitations by September 2024 or take legal action against contractors for delays. The Socio-Economic Rights and Accountability Project (SERAP) also called for an immediate reversal of the petrol price hike, arguing it is unconstitutional and exacerbates poverty.
Both the NLC and Atiku highlighted the severe economic strain caused by rising costs of fuel, devaluation of the naira, and increased electricity tariffs, which have burdened Nigerian households and businesses. Falana emphasized the need for domestic refinery operations to mitigate the fuel price crisis, while SERAP urged the government to address corruption within the Nigerian National Petroleum Company Limited (NNPCL).
