Petrol price hike: TUC reacts, makes strong demand from Tinubu's govt, details emerge

• The Trade Union Congress (TUC) has called on President Bola Tinubu's federal government to immediately revert petrol prices to their June 2023 rates
• The union’s call on Thursday follows a recent increase in fuel prices by the Nigerian National Petroleum Company (NNPC) Limited
• Before the removal of petrol subsidy by President Tinubu on May 29, 2023; the product was priced between N195 and N238 per liter across the country

Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.

The Trade Union Congress (TUC) has demanded the return of petrol prices to what they were as of June 2023.

TUC president tackles Tinubu over petrol price hike. Photo credit: Festus Osifo, Asiwaju Bola Ahmed Tinubu
Source: Facebook

The TUC President, Festus Osifo, made this call at a press briefing in Abuja on Thursday, October 10.

“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 Osifo.

Recall that the NNPCL raised the pump price of fuel. Reports show that petrol, which previously sold for N897 per litre in Abuja, now retails at N1,030 per litre.

This represents a 14.8% or N133 rise when compared to the pump price quoted as of September 2024.

The change in pump prices was observed at various NNPCL stations in Abuja.

As reported by Channels TV, he asked the government led by President Bola Ahmed Tinubu to specially intervene in the sector by giving foreign exchange to Dangote Refinery at $1/N1,000 and not at the current $over 1/N1,600 exchange rate to crash petrol prices

“The solution we are proposing if implemented will take us to the price we had as of June last year,” Osifo stated, stressing that “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.

But on Thursday, the TUC leader harped 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.

The trade union placed its demands along the lines of affordability, availability and accessibility, saying:

“We want the Federal Government to, through Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), give all marketers licenses to lift petrol from the Dangote Refinery.”

TheCable also confirmed the development in its publication on Thursday.

Read more here:

• Fuel price hike: Shehu Sani tells Tinubu what to do, insists “Sacrifices should not fall on the poor”
• “Can NNPC dictate price for Dangote?” NLC calls for mass action over fuel price hike
• Shank Comics blasts government after filling tank with N75k, Nigerians react

Fuel price hike: Nigerians send message to Tinubu

Earlier, Legit.ng reported that fuel prices have increased again at NNPC Limited filling stations across the country as the federal government takes a bold step towards full deregulation

In Abuja, motorists buy fuel as high as N1,030 per litre, while it is slightly cheaper in Lagos at N998 per litre.

Nigerians have taken to social media to react to the latest price adjustment, which is the third in 2024

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Source: Legit.ng