The Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) leaders are currently in a crucial meeting with the Federal Government to discuss the state of the nation, particularly petrol pricing and its far-reaching consequences......See Full Story>>.....See Full Story>>
This meeting, held at the presidential villa at the office of the Secretary to the Government of the Federation, George Akume, aims to address the labour unions’ concerns regarding the recent removal of fuel subsidies and their impact on the economy.
Vanguard reported that the outcome of this meeting will be critical in determining the next steps for the labour unions and the Federal Government.
Fuel crisis in Nigeria
Nigeria’s recent fuel price hike has sparked widespread concern among citizens, and rightfully so. The government’s decision to remove fuel subsidies has led to petrol prices exceeding N1,000 per litre in major cities, which aims to create long-term economic stability and efficiency.
By allowing market forces to determine fuel prices, the government hopes to free up resources for critical sectors like infrastructure, healthcare, and education, addressing the country’s chronic underinvestment.
However, this shift comes with substantial risks, particularly for vulnerable Nigerians who must now bear the immediate burden of soaring fuel costs. The government’s failure to adequately cushion the impact on these segments of society threatens to derail the broader benefits of this policy.
Petrol sells at ₦2,500 in Akwa Ibom
Legit earlier reported that Governor Umo Eno of Akwa Ibom state has constituted a committee to address the sudden increase in the cost of fuel prices in the state
Fuel is being sold at ₦2,500 in the oil-rich state after an alleged confiscation of trucks of IPMAN’s members by the joint task force of Operation Delta Safe in the state
According to the governor, the committee is responsible for addressing the fuel crisis in the state and bringing down the price of the commodity.