The Trade Union Congress has called on the Federal Government to subsidise crude oil supply to local refineries as a way to reduce soaring fuel prices.

TUC President, Festus Osifo, said the rising cost of petrol—approaching N2,000 per litre in some areas—is worsening economic hardship for Nigerians.

He proposed that excess revenue generated from crude oil prices above the national budget benchmark should be used to subsidise crude supplied to refineries such as the Dangote Refinery and other modular plants.

According to Osifo, allocating about 60 per cent of surplus oil revenue to this subsidy would lower production costs for refiners and, in turn, reduce pump prices of petroleum products.

He noted that subsidising crude supply would be easier to manage and monitor compared to fuel subsidies, while also helping to stabilise the domestic market.

The union also urged the government to take steps to strengthen the naira, address inflation, and consider salary adjustments and wage awards to cushion the impact of the current economic challenges.