Organised Labour Threatens Nationwide Shutdown Over Petrol Price Surge

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Organised Labour Threatens Nationwide Shutdown Over Petrol Price Surge
Nigeria’s Organised Labour Warns of Nationwide Shutdown Amid Petrol Price Surge

In a strong and resolute stance, the Organised Labour has issued a stern warning that it will carry out a comprehensive and indefinite nationwide shutdown of the country if the petrol pump price is raised from its current rate of 617 naira per liter. The labour union deems any such increase as “illegal” and has vowed to take drastic action to prevent it.

The President of the Nigeria Labour Congress (NLC), Joe Ajaero, made this declaration on Monday during the African Trade Union alliance meeting held in Abuja. He also cautioned against undermining the legitimate demands of the organized labour, underlining their determination to protect the interests of the Nigerian workforce.

The anticipated increase in petrol prices has been a subject of concern. According to a recent report by The PUNCH, oil marketers have hinted at an impending rise in the cost of Premium Motor Spirit (commonly known as petrol). The projected price range is expected to land between 680 and 720 naira per liter in the coming weeks. This prediction is contingent on the exchange rate of the dollar continuing to fluctuate between 910 and 950 naira in the parallel market.

Market experts have revealed that the scarcity of foreign exchange is hampering the import of PMS, which, in turn, is pressuring dealers to shelve their importation plans temporarily. This scarcity is a result of the fluctuating exchange rates and has created challenges for businesses reliant on importing essential commodities.

Interestingly, the organized labour had recently deferred a proposed indefinite strike initially slated for Thursday, August 4, 2023. This decision came after discussions with the President, Bola Tinubu. The suspension demonstrated a willingness on both sides to engage in dialogue to find a mutually agreeable solution to the issues at hand.

As the nation braces itself for the potential escalation of petrol prices and the subsequent economic implications, the Organised Labour’s uncompromising stance looms large, signifying a strong determination to protect the interests and rights of the Nigerian workforce. The threat of a nationwide shutdown highlights the gravity of the situation, and all eyes are now on the course of action that the government and stakeholders will take to address this brewing crisis.

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