Federal Govt Cuts Short The Joy Of Dangote Fuel Roll Out, Jerks Up Pump Prices, As Labour Kicks

By Benard Akoma

Jubilation over the news that Dangote refinery is ready to roll out its first fuel supply to the Nigerian market has been cut short following the announcement almost immediately by the federal government that the price of petroleum product has been increased once more. In a release circulating in the social media, it was reported that “Nigeria National Petroleum Corporation NNPC Retail Management has approved upward review of PMS pump price from N617/litre to N897/litre.”

Meanwhile the situation has been made worst by the statement emanating from the Dangote group that it is the government not the Dangote management that will determine how much a litre of the Dangote fuel would be sold to Nigerians.

 This was disclosed by Aliko Dangote himself the president of Dangote group, while fielding questions on Channel Television, September 3, 2024. Responding to the question on pricing by the Channel reporter, Dangote said, “the price of the product will be determined by the federal executive council and not his company.”

However Dangote noted that the roll out of his company product will bring a lot of relief including saving the country 40% of its dollar dependency. He disclosed this during a press briefing in his facility site, Lagos monitored on Arise Television.

Dangote also stated that the product will be available to Nigerian markets only when the Nigeria National Petroleum Corporation, NNPC, finalizes with the arrangement. But he assured the quality which looks white on display will compete with the best in the world. He said that its durability on motor engines is high and its effects is also more efficient.

The Nigeria Labour congress has condemned the recent increase in petroleum product price describing it as a betrayal. In a statement made available to the public and signed by the president of the NLC, Comrade Joe Ajaero, it says,”we recall vividly when Mr. President gave us the devil’s alternatives to choose from either N250,000 minimum wage (subject to the rise of pump price between N1,500 and N2000, and N70,000 at old PMS rate), we opted for the later because we could not bring ourselves to accept further punishment on Nigerians.”

Labour regrets, saying, “barely after one month of such understanding and without government paying the minimum wage, we are confronted with a reality we cannot explain, it is both traumatic and nightmarish.”