The Nigeria Labour Congress (NLC) has lauded Dangote Refinery for recently slashing fuel prices, labeling it a crucial economic relief for the nation’s citizens.
In a statement to the press, the NLC Lagos Council Chairman emphasized the refinery’s timely entry into the market. This price reduction is expected to alleviate transportation costs, lower the prices of goods and services, and provide financial respite to those facing the escalating cost of living.
“This adjustment promises to offer much-needed relief for millions of Nigerians grappling with high fuel prices and rising living expenses,” the Chairman stated.
She further highlighted that if not for Dangote Refinery, the government would still rely on fuel imports. Currently, Dangote produces approximately 650,000 barrels per day, significantly surpassing the combined output of the Port Harcourt refinery and another refurbished facility, which stands at about 210,000 barrels daily.
With this substantial production capacity, Dangote has fostered healthy competition within the sector, leading to a decrease in petroleum prices. The refinery has also initiated exports to countries like Ghana and Togo, contributing to currency stabilization.
The NLC Chairman expressed gratitude for Dangote’s timely intervention and emphasized the importance of promoting domestic currency usage. She pointed out the National Assembly’s ongoing efforts to introduce supportive legislation.
“In this context, we advocate for government support for Dangote and other industry players to enhance competition,” she stated. “This relief is a vital step to assist many Nigerians struggling with high living costs, and we encourage other stakeholders to follow Dangote’s example for the benefit of all.”
Addressing the proposed 2025 budget, the Chairman expressed optimism about Nigeria’s economic recovery if the Federal Government adheres strictly to its implementation, which could lead to improvements in security, food production, and other critical sectors.
