Increase in Fuel Price: Tension as NLC Takes Major Action

• The NLC has hinted at the possibility of embarking on a nationwide strike and protest over the increment in the price of fuel in the country
• Joe Ajaero, the NLC president, in a statement on Tuesday, September, condemning the new increment and expressed disappointment in President Bola Tinubu
• The NNPC Limited on Tuesday adjusted the price of the commodity to an all-time high depending on the location of its outlets, leading to panic in the country

A significant development in Nigeria's oil industry occurred as the Dangote oil refinery announced its plan to supply 25 million litres of PMS daily in September.

Meanwhile, Nigerians faced a sudden increase in fuel prices on Tuesday, September 3. Pump prices rose from around N600 to N855/litre, N918/litre, and above, depending on the location.

Why NNPC increase fuel price

According to The Punch, sources revealed that a directive was issued to retail outlets of the Nigerian National Petroleum Company (NNPC) Limited to increase petrol prices, with varying recommended prices by location, including some selling at N900.

Read also

More trouble for Nigerians as NNPCL suspends sale of petrol to independent marketers

NNPC outlets in Lagos confirmed an increase in price to N855/litre, following an approved upward review by the NNPC retail management. This price hike comes just two days after the company acknowledged facing challenges in fuel importation due to a $6bn debt.

There are indications that petrol prices may reach N1,200/litre following the NNPC's decision to raise pump prices at its stations.

NLC condemns fresh fuel price

The Nigeria Labour Congress (NLC) has strongly condemned the price increase, labeling President Bola Tinubu a "betrayer" and hinted on the possibility of staging nationwide strike soon.

In a statement, NLC President Joe Ajaero expressed shock and disappointment, citing the understanding that fuel prices would not increase as part of the agreement for the N70,000 national minimum wage.

The NLC demands an immediate reversal of the pump price increase, release of incarcerated protesters, and reversal of the 250% electricity tariff hike as it disclosed that its affiliate unions would converge in the coming days to discuss the way forward.

Read also

BREAKING: Dismay as TUC breaks silence on “sudden” fuel price hike, details surface

Anti-NNPC protesters exchange blow over money

Legit.ng recently reported an incident at the Abuja hotel that was marred by drama. Protesters clashed over funds allegedly provided by their sponsors.

The Civil Society Network on Economic and Social Advancement had planned to stage a demonstration against NNPC Limited, citing the nation's fuel crisis as the reason.

However, the group's members abandoned the protest, leading to a dispute over how to divide the money among themselves, which ultimately escalated into physical altercations.

Source: Legit.ng