The Trade Union Congress has made known the position of its National Executive Committee on the removal of subsidy on petrol: It should be reversed to N65 with negotiation on its withdrawal tied to specific timelines on the resuscitation of the country’s refineries.
In a terse statement on its wall on social media, Facebook, it said: “TUC’s official position arising from the NEC meeting: :Revert to N65/litre then commence negotiations tied to timelines to bring back domestic refineries on stream.”
This position is one of the many being canvassed by Nigerians in the bid to sanitise the oil industry.
The bulk of the local petroleum products are imported from crude sent to refineries outside the country.
In fact, the Nigerian National Petroleum Corporation buys the refined product not directly from the refineries outside the country but from third parties.
And then the fraud on the number of days for vessels to deliver is then introduced into it, according to a recent revelation published on this site and credited to the Chairman of Zenon Petroleum and Gas, Mr. Femi Otedola.
Former Minister of Petroleum Resources, Prof. Tam David-West believes that the cost of a litre of petrol, including profit margin, is not more than N40, leaving the impression that Nigerians are indeed the ones subsidizing government.
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