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TUC urges Govt intervention as fuel prices surge to over ₦1000

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Nigerians are facing yet another challenge as fuel prices skyrocket, with the Nigerian National Petroleum Company Limited (NNPCL) increasing pump prices from ₦568 to ₦998 per liter in Lagos and ₦1,030 in Abuja.

As a result, the Trade Union Congress (TUC) is demanding a return to June 2023 prices, with President Festus Osifo stating, “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.”

The TUC President made this demand at a press briefing in Abuja, emphasizing the need for government intervention.

He also suggested foreign exchange support for Dangote Refinery at $1/N1,000 to reduce prices. “The solution we are proposing, if implemented, will take us to the price we had as of June last year,” he assured.

The TUC leader stressed that petrol is essential for all Nigerian households and advocated for affordability, availability, and accessibility.

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The union proposes licensing marketers to lift petrol from Dangote Refinery and sourcing refined petrol from other places to meet daily demands. Osifo noted, “If it’s not available, it’s a problem… We should look for every other means to source for that difference and bring it in until Dangote can get to that level.”

Nigerians woke up to another shocker on Wednesday morning when NNPC retail outlets adjusted the pump price of petrol in Lagos and the Federal Capital Territory (FCT), Abuja.

In Lagos, Ripples Nigeria observed that many NNPCL outlets sold a litre of the essential commodity for ₦998, about ₦150 higher than the initial price of ₦855. The sudden increase set motorists and transporters in panic-buying mode as snake-like queues have besieged filling stations.

Many filling stations not owned by the NNPCL immediately followed suit as they also incrementally adjusted their pump prices, with many selling as high as ₦1050 in many parts of Lagos.

This recent increase has sparked outrage, with many expressing frustration on social media. Many questioned the rationale behind the increase, given the local refinery and crude sales in naira.

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