TUC Proposes Subsidy Plan For Refineries
The Trade Union Congress has proposed a new policy option called a production subsidy for Dangote Refinery and other modular refineries.
The aim is to reduce the cost of producing premium motor spirit, also known as petrol, and ease pressure on fuel prices in the country.
The union says the idea is meant to support local refineries so they can produce petrol at lower costs.
It believes this could help reduce the final price paid by consumers at filling stations across Nigeria.
Under the proposal, government backing would be directed at production rather than direct fuel consumption subsidies.
This, according to the union, could improve efficiency in the downstream oil sector while encouraging local refining capacity.
The suggestion comes amid ongoing debates on fuel pricing and energy costs, as Nigeria continues to adjust to deregulation and changes in global oil market conditions.
