TUC Warns Petrol May Hit ₦2,000/Litre, Proposes Crude Revenue Subsidy Plan to FG

DETAILS:

The Trade Union Congress of Nigeria (TUC) has warned that petrol prices in Nigeria could rise to as high as ₦2,000 per litre if urgent economic measures are not introduced to stabilise the country’s energy and currency markets.

TUC President, Festus Osifo, issued the warning during a press briefing in Abuja, citing the combined impact of rising global crude oil prices and continued depreciation of the naira as major drivers of worsening fuel costs.

Osifo said Nigerian workers are already under severe economic pressure, noting that in some parts of the country, fuel pump prices are already approaching the ₦2,000 threshold due to market volatility and transportation differentials.

He explained that the 2026 national budget benchmarked crude oil at about $64.85 per barrel, while current international prices hover around $100 per barrel, creating what he described as significant “excess revenue” for the government.

The TUC is proposing that the Federal Government allocate about 60% of this excess crude revenue to support local production by subsidising crude supply to domestic refineries, including the Dangote Refinery and other modular refineries.

According to Osifo, this approach would be more transparent and harder to manipulate than the previous fuel subsidy regime, while also helping to reduce the cost of petrol, diesel, and aviation fuel within a short period.

READ ALSO:

• US Embassy Suspends Abuja Visa Appointments Over Security Concerns
• ADC Crisis: Mark-Led Faction Sues INEC Over Party Leadership Removal
• Dangote Sugar Warns Staff Over Chewing Sugarcane, Threatens Arrest

He argued that targeted support at the refinery level could reduce pump prices within two weeks if implemented, stressing that the current cost structure is unsustainable for households and businesses.

The TUC president also criticised the slow expansion of Compressed Natural Gas (CNG) infrastructure, noting that although CNG adoption is being promoted as an alternative to petrol, the absence of refuelling stations along major highways limits its practicality for long-distance transport.

Beyond economic issues, Osifo also raised concerns over worsening insecurity in parts of the country, particularly recent killings in Plateau State, urging the government to strengthen military response capabilities with modern technology and intelligence tools.

He warned that failure to address rising fuel costs could reverse recent gains in inflation control, arguing that high petrol prices directly impact inflation, transport fares, and food costs across Nigeria.

Osifo further suggested that the naira’s fair value should ideally be within the ₦800–₦900 per dollar range to ease pressure on fuel pricing and broader economic stability.

The TUC stated that it will formally present its proposal to the Federal Government ahead of upcoming federation revenue distributions, insisting that urgent intervention is necessary to prevent further economic hardship.

As of the time of filing this report, the Federal Government has not issued an official response to the proposal or the ₦2,000-per-litre warning.

Nigeria May Face ₦2,000 Petrol Price Without Intervention, TUC Warns FG

Dangote Sugar Warns Staff Over Chewing Sugarcane, Threatens Arrest

Dangote Sugar Refinery Plc has issued a stern and final warning to employees at its Numan operations in Numan, banning the chewing of company sugarcane within its premises and threatening severe disciplinary actions, including arrest and prosecution, for defaulters.

The directive, contained in an internal memo dated April 7, 2026, and signed by the Head of Human Resources, Ikechukwu Okorie, categorised the act as “gross misconduct”. The company stressed that any staff caught engaging in the practice risks summary disciplinary measures, which may extend to legal consequences.

According to the memo, the sugarcane cultivated and processed at the facility is a valuable company asset, and unauthorised consumption amounts to misuse of resources. Management noted that beyond the economic implications, the habit of chewing cane and discarding chaff indiscriminately undermines hygiene and sanitation standards required in a food processing environment.

The circular further emphasised that maintaining strict housekeeping is critical to operations at the Numan plant, warning that littering the premises with cane residue violates established workplace standards. As part of enforcement, security personnel have been placed on high alert and directed to apprehend any employee found violating the directive, with offenders facing both internal disciplinary action and possible prosecution aimed at recovering losses.

READ ALSO:

• Jetour set to ignite Lagos with four-day automotive experience
• Making Up for Lost Sleep Might Be Healthier Than Experts Once Believed — What Science Says
• Sleeping Positions: How They Affect Your Health and Which Ones to Avoid

The strongly worded memo ended with a clear warning — “BE WARNED FOR THE LAST TIME!!!” — underscoring the company’s zero-tolerance stance on the issue.

The development comes amid ongoing expansion efforts by Dangote Sugar, particularly under its backward integration programme designed to boost local sugar production. The company is scaling up operations through large-scale cultivation and processing projects across multiple states.

As part of its broader financial strategy, Dangote Sugar recently announced a proposed ₦500 billion rights issue to reduce debt, strengthen its balance sheet, and fund expansion projects. These include upgrades at its Numan facility and new developments in Nasarawa State and Taraba State.

Since the memo surfaced online, it has sparked mixed reactions on social media, with some supporting the company’s strict stance on discipline and hygiene, while others consider the threat of arrest excessive for what appears to be a minor infraction. As of the time of filing this report, the company has not released an official public statement addressing the leaked circular.

Dangote Sugar Warns Staff Over Chewing Sugarcane, Threatens Arrest

Jetour set to ignite Lagos with four-day automotive experience

Lovers of sophisticated and elegant SUVs in Lagos are about to witness a combination of automotive engineering and urban lifestyle as Jetour Nigeria announces the hosting of a flagship event, “The Jetour Experience,” a four-day immersive festival designed to redefine how Nigerians interact with the road.

​From April 16 to 19, 2026, The Podium in Lekki, Lagos, will be transformed into a high-energy hub where sleek design meets high-octane entertainment. This is not just a standard car show; it’s a curated lifestyle destination, says the organisers in a statement.

The four-day event is said to promise a fusion of horsepower, high fashion, and plenty of fun.

Tagged “The Jetour Experience,” the four-day extravaganza is not just about gleaming chrome and leather seats; it is a high-octane celebration aimed at blurring the lines between mobility and entertainment.

Specifically, it stated that the exhibition would feature test drives, virtual reality gaming, fitness sessions, and interactive activities with branded giveaways.

The statement added that the arena would buzz with entertainment, including contests and interactive games, giving guests the chance to win exclusive branded gifts and prizes.

​In a massive show of force, Jetour says it is partnering with its seven prestigious accredited dealers—Elizade Nigeria Limited, New Era Autovehicle Services Limited, Kojo Motors, R.T. Briscoe, Tab Autos Limited, Mandilas Motors, and Germaine Auto Centre —to bring their full fleet to the public.

​Whether you are an eco-conscious commuter or an off-road adventurer, the lineup has something for everyone, according to a statement by the Jetour Nigeria.

​The Urban Explorers: X50 and X70

​The Sophisticates: X70 Plus and X90 Plus

​The Eco-Warriors: X70 PHEV and T2 PHEV (Plug-in Hybrids)

​The Icons: The rugged T2 and the razor-sharp Dashing

​Jetour is blurring the lines between mobility and entertainment. Running daily from 9:00 am to 7:00 pm, the event promises a packed itinerary designed to keep the adrenaline pumping.

Visitors will also push limits during test drives, explore virtual reality (VR) gaming such as foosball, and take part in curated fitness sessions.

In a creative masterstroke, the grand finale will feature a car runway fashion show. Attendees can expect a visual feast where automotive engineering meets sartorial elegance, reinforcing the idea that a Jetour is not just a vehicle but a fashion statement.

The firm stated, “Beyond the glitz, the event maintains a strong focus on safety. A dedicated panel discussion featuring stakeholders and officials from the Federal Road Safety Corps (FRSC) will explore road safety, tech-driven security, and the future of motoring in Nigeria.

“With its blend of adrenaline, artistry, and advocacy, Jetour Nigeria isn’t just hosting an event; it is creating a destination.”