The Nigeria Labour Congress (NLC) has issued a stern warning to the Nigerian government regarding the possibility of a nationwide strike if oil marketers increase the price of petrol without concluding ongoing negotiations.
The threat comes after hints from oil marketers that the cost of Premium Motor Spirit (PMS), commonly known as petrol, could rise significantly due to the continued fluctuation of the exchange rate between the Naira and the Dollar.
NLC President, Joe Ajaero, directed the Federal Government's attention to the dwindling value of the Naira and urged corrective measures to prevent further devaluation.
The warning follows reports that the price of petrol could soar to between N680 and N720 per liter if the Dollar maintains its current trading range of N910 to N950 on the parallel market.
Oil marketers have cited the scarcity of foreign exchange as a major obstacle to importing petrol, with the Central Bank of Nigeria's Importers and Exporters official exchange rate window proving insufficient to meet their needs.
Despite the court injunction barring the NLC from embarking on a strike over issues related to fuel subsidy removal and price hikes, the labor union recently staged nationwide protests that significantly impacted economic activities across the country.
The Federal Government's attempt to prevent these protests culminated in contempt proceedings against labor leaders.
However, after discussions between the labor leaders and the Presidency, the protests were called off and strike plans were shelved.
Ajaero, speaking at the ongoing African Alliance of Trade Unions meeting, voiced the labor union's concerns about economic policies that affect workers' wages and contribute to inflation.
He appealed to the government to address these policies and emphasized that if inflation and devaluation were kept in check, wage increases could be more workable.
He also criticized the police for intervening in labor matters, noting that such actions were not within their purview.
