An attendant selling fuel to a customer | File Image
Labour crisis looms in Nigeria, as the Trade Union Congress (TUC) condemns the latest hike in price of petrol from N670 per litre to N1,030.
It has, therefore, asked the President Bola Tinubu-led administration, to return petrol prices to what they were as of June 2023.
“We want the price of the product to go below what it was before; not just reverse to what it was before but to go below,” said TUC President, Festus Osifo, at a media briefing in Abuja on Thursday.
He asked the government to specially intervene in the sector by giving foreign exchange to Dangote Refinery at $1/N1,000 and not at the current $1/N1,600 exchange rate to crash petrol prices.
Also read: FG worsens Nigerians’ plight, hikes fuel price again
“The solution we are proposing if implemented will take us to the price we had as of June last year,” Osifo stated, stressing, “There is no government in the world that doesn’t intervene in its critical sector” and that the Federal Government “shouldn’t leave it (the oil sector) to the vagaries and gyration of our naira”.
Since May 2023, the Nigerian National Petroleum Company Limited (NNPCL) has increased the pump prices of petrol from N184 in Lagos to N998. The price per litre of petrol was around N450 in Lagos as of June 2023.
On Thursday, the TUC leader insisted on the availability, affordability and accessibility of petrol for all Nigerians, saying that the commodity is essential for all Nigerian households, even those without a second-hand value car.
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