…Subsidize crude oil to Dangote Refinery
From Atiku Sarki, Abuja
Following the recent hike in the price of petrol across the country, most especially in Lagos State and the Federal Capital Territory (FCT) Abuja, the Trade Union Congress (TUC) has demanded the reversal of the petrol price from where it was in June last year.
It was observed that this week Wednesday, Nigerians woke up and discovered another development where most of the NNPC retail outlets in some parts of the country, most especially Lagos and Abuja, where a litre of petrol was sold between N998 and N1050 from the initial price of N855.
According to the Union, since May 2023, the Nigerian National Petroleum Company Limited (NNPCL) increased the pump price of petrol from N884 in Lagos to N998, where the price of a litre of petrol was around N450 in Lagos.
Briefing newsmen in Abuja, the National President of TUC, Comrade Festus Osifo, on the current situation of the hike in Petrol prices for many Nigerians.
He demanded the Federal Government subsidize Crude Oil at Dangote Refinery to address the rising costs of petroleum products affecting Nigerians and other citizens across the country.
He observed that the removal of fuel subsidy in May last year by President Bola Ahmed Tinubu has been attributed to the recent increase in pump prices for Premium Motor Spirit (PMS).
He noted that since the removal of the fuel subsidy by the government, the subsequent fluctuation in the exchange rate led to renewed subsidy hike conditions. Saying that before the subsidy was lifted, the current pump price was higher.
Comrade Osifo believed that all over the world, no government should intervene in its critical sector, and Nigeria should not be left behind and proposed a special intervention scheme to stabilize fuel prices that can provide a favourable exchange rate for crude oil sold to Dangote Refinery.
The TUC President also observed that for Nigeria to get right and ensure energy security, then, there must be improvement in three critical areas, which he said accessibility, availability and affordability of fuel.
Comrade Festus while also calling for all marketers to be granted access to products from Dangote Refinery, further demanded that the government clarify the refinery’s production capacity as well as urging state governments and the FCT to promptly implement this adjustment to reduce the financial burden on workers and other citizens on the ongoing economic hardship in the country.