The Nigeria Labour Congress (NLC) has raised alarm over what it calls the inflation of petrol prices by Dangote Group and other oil marketers in Nigeria. In a statement released after its National Executive Council meeting on Friday, the NLC highlighted concerns about the high price of petrol, which currently ranges between N1,060 and N1,200 per litre, a price they argue is much higher than the true market value.

The NLC believes the rise in petrol prices is due to cost padding and unreasonable profit margins in the country’s oil sector, which are negatively impacting Nigerian citizens. The union has called on the government to activate local refineries, especially the Port Harcourt refinery, and other public refineries, to help break the control that big players have on the industry.

The NLC’s statement also noted that the ongoing dispute between Dangote Group and petroleum marketers over petrol pricing is further evidence of the unfairness in the market. Dangote has said that its petrol is sold at N960 to N990 per litre, but marketers argue that imported petrol is cheaper. Dangote Group, however, accused marketers of importing low-quality and cheap fuel, a claim which has been denied.

According to recent data, the landing cost of imported petrol is around N971 per litre, which the NLC claims is still too high. The union insists that a fair pricing system must be implemented and that the activation of Nigeria’s refineries is crucial to reducing the monopoly held by a few big players in the sector.

The NLC’s call for action is aimed at ensuring a fair and transparent petrol pricing system that benefits the average Nigerian.