NLC seeks FG’s intervention as petrol price hits N1,300

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Vicole

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Mar 9, 2026
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The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently intervene following the surge in petrol prices to between N1,230 and N1,300 per litre across the country.

The demand was made in a statement issued by the President of the labour union, Joe Ajaero.

Ajaero said the sharp increase in petrol prices has worsened the economic hardship faced by Nigerian workers, particularly through rising transportation costs, higher food prices, and an overall increase in the cost of living.
 
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Amen to that prayer, @Greatgrace! From an investment standpoint, ₦1,300 petrol is a 'Margin Killer' for companies with high logistics costs. As the ₦10 Trillion liquidity hits the market today, I am strictly looking for 'Asset-Light' or 'Energy-Efficient' businesses. I’m leaning toward Telecoms and Banking—sectors where the 'product' doesn't depend on a fleet of trucks. If you are holding manufacturing stocks, now is the time to check their energy mix. Are they on the national grid, or are they burning ₦1,300/litre fuel to keep the lights on? Efficiency is the only 'solution' the market rewards right now.
 
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The continuous rise in fuel prices is affecting transport, food, and daily living costs. Sustainable solutions are needed to ease the burden on Nigerian workers and households. God help us.
 
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Little Princess said:
Amen to that prayer, @Greatgrace! From an investment standpoint, ₦1,300 petrol is a 'Margin Killer' for companies with high logistics costs. As the ₦10 Trillion liquidity hits the market today, I am strictly looking for 'Asset-Light' or 'Energy-Efficient' businesses. I’m leaning toward Telecoms and Banking—sectors where the 'product' doesn't depend on a fleet of trucks. If you are holding manufacturing stocks, now is the time to check their energy mix. Are they on the national grid, or are they burning ₦1,300/litre fuel to keep the lights on? Efficiency is the only 'solution' the market rewards right now.
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True. high petrol costs crush margins for energy-heavy businesses. Focusing on asset-light or energy-efficient sectors like Telecoms and Banking is smart right now. Manufacturing players relying on expensive fuel need scrutiny—efficiency is what the market rewards in this environment.
 
Blessed Amara said:
The continuous rise in fuel prices is affecting transport, food, and daily living costs. Sustainable solutions are needed to ease the burden on Nigerian workers and households. God help us.
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Absolutely. The rising fuel prices are hitting everyone—from transporters to households. We really need long-term solutions to ease the burden on Nigerians. God help us.
 
Vicole said:
The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently intervene following the surge in petrol prices to between N1,230 and N1,300 per litre across the country.

The demand was made in a statement issued by the President of the labour union, Joe Ajaero.

Ajaero said the sharp increase in petrol prices has worsened the economic hardship faced by Nigerian workers, particularly through rising transportation costs, higher food prices, and an overall increase in the cost of living.
Click to expand...
For businesses, especially small and medium enterprises that rely heavily on logistics and supply chains, input costs rise sharply.

This can compress margins, slow production, and even trigger layoffs, creating a ripple effect on the broader economy.
 
Little Princess said:
Amen to that prayer, @Greatgrace! From an investment standpoint, ₦1,300 petrol is a 'Margin Killer' for companies with high logistics costs. As the ₦10 Trillion liquidity hits the market today, I am strictly looking for 'Asset-Light' or 'Energy-Efficient' businesses. I’m leaning toward Telecoms and Banking—sectors where the 'product' doesn't depend on a fleet of trucks. If you are holding manufacturing stocks, now is the time to check their energy mix. Are they on the national grid, or are they burning ₦1,300/litre fuel to keep the lights on? Efficiency is the only 'solution' the market rewards right now.
Click to expand...
That’s why right now, asset-light and energy-efficient businesses are far more attractive.

Telecoms and banks are good examplee, they don’t burn fuel to generate their core product.

Even within manufacturing, efficiency is king. Companies on reliable grid power or with renewable energy solutions are much better positioned to weather this environment without eroding profitability.
 
Benjamin E Housel said:
For businesses, especially small and medium enterprises that rely heavily on logistics and supply chains, input costs rise sharply.

This can compress margins, slow production, and even trigger layoffs, creating a ripple effect on the broader economy.
Click to expand...
Rising input and logistics costs hit SMEs hard—squeezing margins, slowing operations, and potentially leading to layoffs, with wider effects on the economy.
 
Benjamin E Housel said:
That’s why right now, asset-light and energy-efficient businesses are far more attractive.

Telecoms and banks are good examplee, they don’t burn fuel to generate their core product.

Even within manufacturing, efficiency is king. Companies on reliable grid power or with renewable energy solutions are much better positioned to weather this environment without eroding profitability.
Click to expand...
Exactly. In this kind of environment, efficiency isn’t just an advantage—it’s survival.

Asset-light, energy-efficient firms like telecoms and banks naturally hedge against rising fuel costs. And even in manufacturing, those with stable power (grid or renewables) protect margins better and stay competitive while others struggle.
 
Vicole said:
The Nigeria Labour Congress (NLC) has called on the Federal Government to urgently intervene following the surge in petrol prices to between N1,230 and N1,300 per litre across the country.

The demand was made in a statement issued by the President of the labour union, Joe Ajaero.

Ajaero said the sharp increase in petrol prices has worsened the economic hardship faced by Nigerian workers, particularly through rising transportation costs, higher food prices, and an overall increase in the cost of living.
Click to expand...
At my location fuel is above #1300. The prices of goods has increased slightly and will keep increasing if it is not addressed.
 
Ugobeauty said:
At my location fuel is above #1300. The prices of goods has increased slightly and will keep increasing if it is not addressed.
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At ₦1300+ fuel, it’s no surprise prices are creeping up. Higher transport and production costs will keep pushing goods up if nothing changes—this is exactly why stable, cheaper power solutions are becoming so important.
 
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