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The President of the Nigeria Labour Congress, Joe Ajaero, has queried the decision of the Nigerian National Petroleum Company Limited, NNPCL, to decide and modulate the fuel pricing for Dangote Refinery thus leading to the recent fuel hike in the country.
Ajaero remarked while condemning NNPCL for increasing the pump price of fuel.
NNPCL had increased the retail price of petrol to N1,030 from N897 per litre in the Federal Capital Territory, FCT.
Read Also: I Built Dangote Refinery Without Support From FG – Aliko
Speaking in Abuja on Wednesday, Ajaero said: “As we are sitting down here, they have gone to increase the pump price of petroleum again. Now what do you do in such instances?
“They expect us to buy it. Even, things we have been asking for; CNG as an alternative; for more than one year, we have been asking for the commencement of work at the Port Harcourt refinery; we had an agreement to that effect—NLC, TUC, and the federal government.
“We have heard that Dangote Refinery is producing locally and prices are going up. All the indices they gave to us about the need to deregulate have proven negative. You are fixing prices as a private company.
“As far as I’m concerned, except something has happened to CAC, NNPCL is now a private company. Can that same NNPCL dictate the price for Dangote and other private companies? Those are issues, those are questions begging for answers.”
Aliko Dangote, the head of Dangote Group, has urged Nigeria to cease relying on foreign crude oil to supply its domestic refineries. He believes the country should prioritize self-sufficiency in order to ensure a steady supply of feedstock for its manufacturing industries.
Speaking at a summit organized by the Crude Oil Refinery Owners Association of Nigeria in Lagos, Aliko Dangote criticized Nigeria and other African countries for spending their oil revenues rather than investing them in a future fund, like Norway. He contrasted this approach with Norway’s practice of saving oil proceeds for future generations.
“To ensure sufficient feedstock availability we will need to stop mortgaging crude. It is unfortunate that while countries like Norway are putting oil proceeds into a future fund through their national wealth funds, in Africa, we are spending oil proceeds from the future today,” he stated.
