TUC Proposes Subsidies for Dangote, Modular Refineries

The Trade Union Congress (TUC) has urged the Nigerian government to implement subsidies for Dangote and modular refineries to help lower the rising costs of fuel. TUC President Festus Osifo made this proposal on a political program on Channel Television, emphasizing that the current high prices of Premium Motor Spirit (PMS), commonly known as petrol, are burdensome for Nigerians.

Osifo pointed out that the federal government should consider reintroducing petrol subsidies or alternative measures to ease these costs. He noted that oil prices have surged significantly, rising from 800 to around 1,300 naira, influenced by geopolitical tensions such as the US-Israel-Iran conflict.

Despite pressures to reinstate fuel subsidies, the government, under President Bola Tinubu, has maintained its position against such policies, with Coordinating Minister of Economy and Finance Taiwo Oyedele reaffirming a commitment to market-driven economic reforms. Osifo urged the government to explore innovative solutions to support citizens amid increasing living costs.