N30 trillion Nigeria‘ll earn from U.S.-Israel-Iran war must not grow wings-NLC Warns

The Nigeria Labour Congress (NLC) has urged the Federal Government to urgently protect Nigerians from the rising cost of petrol and worsening economic hardship.

In a statement yesterday by its President, Joe Ajaero, the labour union said the recent spike in petrol prices – ranging between N1,170 and N1,300 per litre – has placed unbearable pressure on workers and ordinary citizens.

Citing projections from the Nigeria Economic Summit Group (NESG), the NLC said Nigeria could earn about N30 trillion in oil windfall due to the Middle East crisis, urging the government to channel such revenue towards alleviating citizens’ hardship.

Ajaero said that the about N30 trillion oil windfall expected to accrue to Nigeria as a result of the current Middle East war must not grow wings but should be invested in the Nigerian people.

The statement reads: “The military escalation involving the U.S., Israel, and Iran has sent shockwaves through global oil markets. Consequently, petrol prices in Nigeria have skyrocketed to between N1,170 and N1,300 per litre. This is a direct assault on the Nigerian people. While imperialist rivalries play out with bombs abroad, our working class is bombarded with poverty and hunger because we have refused to ensure that our public refineries are operational.”

Describing the development as an attack on the welfare of citizens, the labour body said Nigerian workers are being forced to bear the consequences of a crisis they did not cause.

The union said the crisis has further exposed structural weaknesses in Nigeria’s downstream petroleum sector, stressing that reliance on global market pricing continues to leave the country vulnerable.

Among other demands, the NLC called for an immediate wage award and cost of living allowance for workers, expanded cash transfers for vulnerable citizens, tax relief for low-income earners, and a clear timeline for the operationalisation of all public refineries.