Fuel subsidy: We're waiting for Atiku, Peter Obi, others' plan - TUC

The Trade Union Congress, TUC, has said it is awaiting a comprehensive plan from former Vice President Atiku Abubakar, Peter Obi and other politicians proposing ways to reduce fuel prices through crude oil supply to local refineries.

TUC President, Festus Osifo, said politicians must explain how their proposals would affect government revenue and the funding of workers' salaries, infrastructure, healthcare, security and other public services.

Osifo spoke while fielding questions on a national television programme.

He questioned the sustainability of proposals to supply crude oil to refineries, including the Dangote Refinery, at prices close to the cost of production, warning that such an arrangement could reduce foreign exchange earnings and revenue accruing to the Federation Account.

According to him, the country must consider how the government would fund other sectors if crude oil were supplied to refineries at a significantly reduced price.

He recalled that when the Nigerian National Petroleum Company Limited, NNPCL, bore the burden of fuel subsidy payments, remittances to the Federation Account declined, leaving many states struggling to pay workers' salaries.

The TUC president said politicians must back their campaign promises with clear revenue projections and practical plans rather than relying on rhetoric.

He said the labour movement would welcome proposals to increase workers' salaries, including promises to pay a minimum wage of N500,000 or N1 million, but insisted that candidates must demonstrate how such commitments would be funded.

Osifo added that the TUC would not support a policy that reduces fuel prices at the expense of workers' salaries, quality healthcare, good roads and other essential public services.

He said the union was particularly interested in seeing the comprehensive plan proposed by Atiku to address the issue.

“We are waiting for the holistic plan that Atiku has in order to address this issue,” Osifo said.

Fuel subsidy: We're waiting for Atiku, Peter Obi, others' plan - TUC