\n\n
The Trade Union Congress of Nigeria (TUC) has warned that the price of petrol in Nigeria could rise to about ₦2,000 per litre if the Federal Government fails to take urgent steps to stabilise the situation. The alarm was raised by TUC President, Festus Osifo, amid growing economic pressure on Nigerians. 
According to the union, the potential price surge is driven by rising global crude oil prices and the continued depreciation of the naira, both of which directly impact fuel costs. Osifo noted that petrol prices are already nearing that level in some parts of the country, warning that the situation is causing severe hardship for workers and triggering increases in transportation, production, and overall cost of living. 
To address the crisis, the TUC proposed that the government should use about 60% of excess crude revenue—generated from oil prices above the budget benchmark—to subsidise crude supply to local refineries like the Dangote Refinery. The union argued that this approach would reduce fuel prices within weeks while avoiding the abuse associated with past subsidy systems. It also warned that if no action is taken, rising fuel costs could reverse Nigeria’s declining inflation trend and worsen economic conditions nationwide. 
