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NLC Attributes Petrol Price Stability To Strong Advocacy, Avoiding N1,500/Litre
NLC Attributes Petrol Price Stability To Strong Advocacy, Avoiding N1,500/Litre....KINDLY READ THE FULL STORY HERE▶
The Nigeria Labour Congress (NLC) has asserted that the steadfast advocacy led by its President, Joe Ajaero, has played a pivotal role in preventing the escalation of petrol prices to N1,500 per litre…….REQ
In an interview with Vanguard, NLC’s Head of Information and Public Affairs, Comrade Benson Upah, credited Ajaero’s leadership for influencing the government’s cautious approach towards fuel price hikes. He highlighted the NLC’s determination to safeguard workers’ interests, citing the successful negotiation of a N35,000 minimum wage as evidence of their commitment.
Upah emphasized that Ajaero’s insistence on timely wage negotiations underscores the NLC’s dedication to securing fair compensation for workers. He suggested that without the NLC’s resolute stance, petrol prices could have surged beyond the current range of N700 to N800 per litre.
However, Upah noted that the government is wary of inciting public unrest by crossing certain price thresholds, recognizing the potential for NLC-led mobilization against drastic increases. As a result, petrol prices have remained relatively stable, owing in part to the vigilance and advocacy efforts of the NLC under Ajaero’s leadership.
As discussions surrounding petrol prices continue, the NLC remains committed to advocating for workers’ rights and ensuring that their voices are heard in critical policy decisions.
During an interview on Channels Television’s ‘Politics Today’, former minister Rotimi Amaechi dismissed recent comments made by FCT Minister Nyesom Wike regarding his selection as a running mate, stating that he does not respond to subordinates and noting that Wike never employed him.....KINDLY READ THE FULL STORY HERE▶
Additional context regarding the political exchange includes:
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Wike’s Remarks: During a media briefing, Wike alleged that Amaechi’s selection was financially motivated rather than strategic, questioning his electoral viability and political influence post-2011.
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Amaechi’s Response: Maintaining that he is currently focused on mourning, Amaechi indicated that he intends to respond more forcefully once his campaign activities officially begin.
During an interview on TVC News, former Lagos State Peoples Democratic Party (PDP) chairman Deji Doherty disputed claims that Chief Olabode George is a founding father of the party, asserting instead that George was introduced into the party’s leadership by former President Olusegun Obasanjo around 1999.....KINDLY READ THE FULL STORY HERE▶
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Criticism of Leadership: Doherty argued that Obasanjo’s decision to entrust the management of the Lagos State PDP chapter to George was a mistake and that the affairs of the state branch were poorly handled.
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Internal Party Crises: Displaying reconciliation documents during the broadcast, he noted that past efforts by respected party elders to resolve internal party disputes have failed to secure long-term peace.
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Call for Youth Empowerment: Doherty emphasized that the ongoing leadership struggles should pave the way for a younger generation to take charge of the nation’s political future, regardless of party affiliation.
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Parallel (Black) Market Rates: According to Bureau De Change (BDC) sources in Lagos for Tuesday, August 4, 2026, the parallel market traded the US Dollar at a buying rate of ₦1,410 and a selling rate of ₦1,425.....KINDLY READ THE FULL STORY HERE▶
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Official CBN Rates: Central Bank of Nigeria figures recorded rates ranging from a low of ₦1,361 to a high of ₦1,364.
Key Advisory Notes
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Regulatory Stance: The CBN does not officially recognize the parallel market and advises individuals engaging in foreign exchange transactions to utilize authorized banking channels.
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Price Variance: Actual market transaction rates may differ across various dealers and locations due to continuous market fluctuations.
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