The Trade Union Congress has called on the Federal Government to reduce petrol prices to what they were in June 2023.
TUC President, Festus Osifo, made this demand during a press briefing in Abuja on Thursday, asking for quick government intervention in the oil sector.
“We want the price of petrol to go below what it was in June, not just return to the same level but even lower,” Osifo said. He urged the government to provide foreign exchange to the Dangote Refinery at a special rate of ₦1,000 to $1 to help bring down petrol prices. The current exchange rate is over ₦1,600 to $1, which has contributed to the rising fuel costs.
Since May 2023, the Nigerian National Petroleum Company Limited has increased petrol prices, with rates in Lagos going from ₦184 to nearly ₦1,000 per litre. In June 2023, petrol was sold at around ₦450 per litre in Lagos.
The TUC president emphasized the need for affordable and available petrol, which is essential for all Nigerians, not just those with vehicles. He also called for the government to allow all marketers to lift petrol from the Dangote Refinery.
“If the Dangote Refinery cannot meet daily demand, the NNPCL should source refined petrol from other locations until production can be increased,” Osifo said. He stressed the importance of ensuring petrol is available across Nigeria to prevent shortages.
The call comes as Nigerians face another surge in fuel prices, with NNPCL outlets selling petrol for up to ₦998 per litre in Lagos and ₦1,030 in Abuja. This increase has led to panic-buying and long queues at filling stations.
Though NNPCL has not made an official statement on the latest price hike, the company hinted at a rise after it began loading its first batch of petrol from the Dangote Refinery in mid-September.
