Should the price of petrol at the pump go up from the current N617 naira—which it calls “illegal”—the Organised Labour has pledged to embark on a total, comprehensive, and indefinite nationwide shutdown of the nation.
The announcement was made by NLC President Joe Ajaero during the African Trade Union Alliance gathering in Abuja, where labour also issues a warning against undermining the union’s demands.
As the nation’s currency continues to depreciate against the US dollar, experts continue to forecast a significant increase in petrol prices at the pump.
Recall that fuel subsidy was eliminated upon President Bola Tinubu’s inauguration as President of Nigeria. Fuel pump prices increased from N180 to over N600 as a result of the removal.
The NLC’s threat is coming a day after oil marketers said petrol would sell between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
The marketers say they have put on hold further fuel import over the scarcity of foreign exchange to import the commodity.
The warning came barely one week after the local currency crossed the N900/dollar ceiling, with the naira selling at over 945/dollar at the parallel market on Friday.
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