Dangote Refinery May Not Be Able To Bring Down Fuel Prices – NLC




The NLC President, Joe Ajaero, said the Dangote Refinery is admirable but it might not be the solution to the problems facing the petroleum industry on Channels Television's Sunrise Daily on Wednesday amid the uproar surrounding the elimination of fuel subsidies.


Ajaero said, â€œFirst, I commend Dangote Refinery but the provision of having dictatorship of the market especially in the private sector is dangerous. Now that is what we are experiencing in the area of cement production. What is Dangote Refinery going to produce? Will it be enough?


“He has done enough to build a refinery. If three or four companies like that are refining then you are talking of competition.


“So, I think while we commend Dangote as a good Nigerian, we are talking about competition, we are talking of deregulation. So Dangote has done well, but can Dangote take care of 30% of the needs of Nigerians?” Ajaero queried.


Fuel subsidies have been removed, according to President Bola Tinubu's, in his inaugural speech on Monday. His announcement sparked a panic in the industry, which resulted in an immediate shortage of petroleum products across the nation.


Even if Tinubu has the best of intentions, alternatives must be offered, according to Ajaero, who claimed that Labour has been quite clear about its view on the matter.


He claimed that the President ought to have inquired about the effects of the reduction of fuel subsidies on Nigerians on the streets.


The head of the NLC mentioned several solutions, among them the repair of the four refineries located in the country and the provision of alternate transportation for Nigerian workers.


“The pronouncement by Mr President is as good as law and if in the process we make a law that is not practicable, the same people that made the law can look at it,” Ajaero said while calling for a review of the President’s pronouncement.


“Does it bring pleasure to us to say subsidy is gone and people start suffering? Is it not part of leadership for us to look at how the suffering of the people can be reduced?” he asked.




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