Friday, October 11, 2024 - The Trade Union Congress (TUC) has called on the federal government to revert petrol prices to their June 2023 rates.
The union made the call a day after the Nigerian National
Petroleum Company (NNPC) Limited increased the pump price of petrol at all its
retail outlets.
Before President Bola Tinubu’s announcement of the removal of the
petrol subsidy on May 29, 2023, the product was sold at between N195 and N238
per litre across the country. However, the latest adjustments have seen petrol
prices soar to N998 per litre in Lagos and N1,003 per litre in Abuja.
At a press conference in Abuja on Thursday, October 10, TUC
President Festus Osifo, said;
“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''
He emphasised the need for the government to offer foreign
exchange to Dangote refinery at $1/N1,000 rather than the current rate of over
$1/N1,600 to effectively reduce petrol prices.
“The solution we are proposing, if implemented, will take us to
the price we had as of June last year,” he added.
Osifo stressed that no government in the world neglects its
critical sectors and that the federal government should not leave the oil
sector to the “vagaries and gyration of our naira.”
Additionally, Osifo urged the government to issue licenses to
independent marketers in the country.
“We want the Federal Government, through the Nigerian Midstream
and Downstream Petroleum Regulatory Authority (NMDPRA), to give all marketers
licenses to lift petrol from the Dangote Refinery,” he said.
The TUC president noted that if the availability of petrol is
compromised, it will pose a significant problem to many Nigerians.
“If, for example, the production from Dangote Refinery is less
than 15 million litres per day, it is not sufficient. So, while efforts are
being made to ramp up production from Dangote Refinery, what we are demanding
is that we should look for every other means as we are ramping up production.
We should source for that difference and bring it in for a while until Dangote
can get to that level where the production is sufficient to get to all the
nooks and crannies of Nigeria. For us, that is key because it will address the
issue of availability.”
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