The Trade Union Congress (TUC) has called for a return to petrol prices last seen before June 2023, citing the need to mitigate the current economic strain on Nigerians. TUC National President, Festus Osifo, made this demand during a press briefing in Abuja on Thursday, emphasizing that the Federal Government must intervene to stabilize the nation’s oil sector.
Osifo urged the government to support the Dangote Refinery by providing necessary foreign exchange to boost its operations. The call came on the heels of a sudden fuel price hike that Nigerians faced on Wednesday, which has since been condemned by the Nigeria Labour Congress (NLC).
“We demand that the price of petrol be reduced not only to pre-June 2023 levels but even lower,” Osifo stated. He argued that government intervention is essential, highlighting that no country leaves its critical sectors solely to market forces. “The Federal Government cannot allow the oil sector to be dictated solely by the fluctuations of the Naira,” he added.
The TUC reiterated its stance on ensuring that petrol remains affordable, available, and accessible to all Nigerians, noting its significance to everyday life. “Petrol is a necessity for Nigerian households, even those without vehicles,” Osifo noted.
As part of their recommendations, the TUC urged the government to grant licenses to all marketers to source petrol directly from the Dangote Refinery through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Osifo further stressed that if the refinery’s current output, reportedly less than 15 million litres per day, is insufficient to meet demand, the Nigerian National Petroleum Company Limited (NNPCL) must seek alternative sources of refined petrol to bridge the gap.
“While Dangote Refinery ramps up production, it is vital to source additional fuel supplies to meet national demand. This is critical for ensuring fuel availability across the country,” Osifo concluded.
