The Nigeria Labour Congress has called on the Federal Government to introduce urgent measures to cushion the impact of rising petrol prices after the cost of Premium Motor Spirit climbed to as much as ₦1,500 per litre in several parts of the country.
The demand came amid renewed volatility in the international oil market linked to the escalating US-Iran conflict and concerns over possible disruptions to global crude oil supplies. Petrol prices have risen sharply in a number of Nigerian states, with reports of prices reaching ₦1,500 per litre in Kano, Yobe, Sokoto, Borno, Taraba and Zamfara.
In a statement signed by NLC President Joe Ajaero, the labour organisation said petrol was selling for about ₦1,430 per litre in major cities, with prices higher in some less accessible locations. The union warned that continued increases in fuel prices would place additional pressure on workers, households and businesses.
The NLC called on the Federal Government to approve reasonable wage awards for workers as part of measures to cushion the effect of the rising cost of transportation and other essential expenses.
It also urged the government to ensure that sufficient crude oil is made available to local refineries in naira. According to the labour body, increasing the supply of locally sourced crude to domestic refineries could help strengthen Nigeria's energy security and reduce exposure to international market shocks.
The union further called for an expansion of the country's petroleum storage capacity, arguing that stronger reserves would provide a buffer during periods of supply disruption or sharp movements in international oil prices.
The latest increase has been felt differently across the country. In Kano, petrol was reported to be selling for between ₦1,460 and ₦1,500 per litre, while prices in Yobe reached between ₦1,500 and ₦1,520 at some filling stations. In Taraba, some motorists reported prices ranging from ₦1,500 to ₦1,700 per litre.
Prices have also increased in several southern states. In Bayelsa, petrol was selling at about ₦1,400 per litre in Yenagoa, while some filling stations in Rivers State were dispensing the product at around ₦1,400. Prices in Abia and Delta also moved higher, although they remained below the ₦1,500 level in many locations.
The increase has also affected transportation. In Kano, for example, commercial tricycle operators reportedly increased fares on some routes as the cost of petrol rose. Similar concerns have been reported in other states, where motorists and transport operators are facing higher operating expenses.
The pressure on petrol prices has coincided with a rise in international crude prices as the conflict involving the United States and Iran has heightened concerns about global energy supplies and shipping routes. Brent crude recently moved above $109 per barrel, adding to pressure on Nigeria's domestic petroleum market.
The latest adjustment has also followed an increase in the gantry price of petrol at the Dangote Petroleum Refinery. The refinery raised its gantry price from ₦1,265 to ₦1,350 per litre, while marketers subsequently adjusted pump prices in several locations.
The NLC has argued that Nigeria's position as an oil-producing country and its growing domestic refining capacity should provide some protection against external energy shocks. The union therefore wants the government to use available policy measures to limit the impact of the latest price increases on citizens.
Fuel marketers have similarly called for government intervention, while warning that continued increases in international crude prices could place further pressure on domestic petrol prices. The rising cost has raised concerns about its possible effect on transportation, food distribution and the operating costs of businesses that depend heavily on petrol and diesel.
For now, the Federal Government has yet to announce a comprehensive response to the NLC's latest demands. The direction of international crude prices, developments in the US-Iran conflict and domestic refining and distribution costs are expected to remain important factors in determining petrol prices in Nigeria.
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