Nigerians may end up buying petrol at N5000 per litre

An offer was made involving two choices: either agree to the recommended ₦250,000, with the possibility of fuel prices rising to ₦1,500 or ₦2,000, or pay ₦62,000 to keep the current situation unchanged. The labor leaders were given a few hours to decide but requested additional time to consult outside the Villa. After a week, they firmly rejected the ₦250,000 offer, citing concerns for the ordinary Nigerian's well-being.

The president failed to honor his commitment to the labor leaders, and this issue extends beyond wage negotiations, affecting the broader population. Since the removal of the fuel subsidy on May 29, 2023, Nigerians have been struggling to adjust to the steep increases in education, transportation, food, and other essentials. The introduction of further price hikes adds to their hardship and uncertainty.

When the president suggested that fuel prices could rise to ₦2,000, a labor leader questioned the rationale, given that the subsidy had already been removed and prices had stabilized. This raises concerns about potential future increases, possibly reaching ₦5,000 per liter. The final decision on this will ultimately rest with Nigerians.