The Nigeria Labour Congress (NLC) has praised Dangote Petroleum Refinery for its recent reduction in fuel prices, describing the move as a significant economic relief for Nigerian consumers.
Speaking to reporters, Comrade Funmi Sessi, Chairman of the Lagos Council of the NLC, noted that the refinery’s operations came at a critical time for the Nigerian economy. She expressed optimism that the reduction in fuel prices would lead to lower transportation costs, reduced prices of goods and services, and financial relief for Nigerians grappling with the high cost of living.
Sessi remarked, “This adjustment promises to offer much-needed relief for millions of Nigerians who have been grappling with high fuel prices and the rising cost of living. Without Dangote Refinery, the government would likely still be importing fuel.”
Highlighting the refinery’s capacity, she added, “Dangote is producing about 650,000 barrels per day, while the Port Harcourt Refinery and the other refurbished facility produce about 210,000 barrels daily combined, which is not even half of what Dangote is achieving. This has introduced healthy competition to the sector, leading to price reductions, and Dangote is even exporting petroleum products to countries like Ghana and Togo.”
Sessi emphasized the broader economic benefits, stating, “This will bring stability to our currency. We appreciate Dangote’s timely intervention and encourage the government to support such efforts while welcoming more players into the sector to foster healthy competition.”
She also called on other stakeholders to emulate the Dangote Group’s example, asserting, “This relief will help many Nigerians struggling with the high cost of living, and we urge others to follow suit for the benefit of all Nigerians.”
Commenting on the prospects of the 2025 Appropriation Bill, Comrade Sessi expressed confidence in the budget’s potential to revive Nigeria’s economy if properly implemented.
“With the budget, we can see that there is hope for Nigeria. Most especially if the government can be strict in its implementation, there will be improvements in security, food production, and other critical areas,” she stated.
