₦airaland Forum

The Nigeria Labour Congress has commended Dangote Refinery for its recent reduction in fuel prices, describing it as a timely economic relief for Nigerians.

Speaking with journalists on Tuesday, Funmi Sessi, the NLC Chairman for Lagos Council, noted that the refinery’s operation has come at the right time.

Sessi expressed optimism that the price cut would ease transportation costs, lower the prices of goods and services, and provide financial relief to citizens struggling with the high cost of living.

“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,” Sessi said.

“If not for Dangote Refinery, we believe the government would still be importing fuel. However, Dangote is now producing about 650,000 barrels per day, while the Port Harcourt refinery and another refurbished refinery together produce about 210,000 barrels per day, which is not even half of Dangote’s output.”

“With this, Dangote has introduced healthy competition in the sector, and we are already seeing a reduction in petroleum prices. Dangote has even started exporting petroleum to countries such as Ghana, Togo, and others. This will help stabilise our currency.”

“In this instance, we want to give credit to Dangote. We also appreciate its timely intervention,” she added.

The NLC Lagos Council Chairman also noted that the National Assembly “is working on a bill to encourage the domestic use of our currency. It is disheartening that our currency is no longer strong, even within the West African region.”

“Therefore, the government should encourage Dangote and other players to enter the market as this will foster healthy competition.”

“We welcome this relief, which will help many Nigerians struggling due to the high cost of living, and we urge other stakeholders to follow the example set by the Dangote Group for the benefit of all Nigerians.”

On the proposed 2025 budget, Sessi said that if the Federal Government strictly implements it, there is hope for the nation’s economic revival.

“With the budget, there is hope for Nigeria. Especially if the government is strict in its implementation, we will see improvements in security, food production, and other areas,” she concluded.

Malroux:
Tinubu is a disgrace to governance

Richtaiwo:
Where is the cut?

Fuel is still over 900/litre, so I ask again, where is the cut?

Mugu44:
100%

Only zombies like kobicove think otherwise despite living in penury

Paraman:
Shey you dey buy petrol at all before the latest cut in price?

jmoore:
Petrol is still being sold above 1,000 naira per litre in most locations in Nigeria.

Tell me one private transport company that has reduced price of ticket because of the cut NLC is talking about.

Hemanwel:
No hailings from me yet until the prices are brought down to N87. That is the price it was when the APC came to power.

The people who sold at N87 don't have two heads.

Hemanwel:
No hailings from me yet until the prices are brought down to N87. That is the price it was when the APC came to power.

The people who sold at N87 don't have two heads.

Hemanwel:
No hailings from me yet until the prices are brought down to N87. That is the price it was when the APC came to power.

The people who sold at N87 don't have two heads.

HALCYON44:
Actually this is not a major cut or reduction. One of the major challenges the government is facing is 'smuggling' once they make a major reduction it will encourage the smugglers more that is why government is not ready to make any overhead expenses. Smuggle it at the original price if with transportation cost it's good for you and that is why they have been able to reduce smuggling to the minimum percentage. Though I agree the cost of petroleum is still very hight for common man and it's impact on other products especially foodstuffs. I am not seeing a major reduction in the line yet but I'm sure we are going to have minor reductions like this more until it go less than 700 naira per litter because the competition is already growing alot of private refineries are coming up plus that of the government once the competition is high it will benefit the masses more than government paying the expenses.

helinues:
They tried this time around

That's how it supposed to be

Praise when the government are doing something good and condemn maturely when they are doing something wrong

helinues:
They tried this time around

That's how it supposed to be

Praise when the government are doing something good and condemn maturely when they are doing something wrong

HelipsTech:
Lol
You just want it back to where da met it. That's unrealistic at least Tinubu should take us back to where Buhari stopped and keep us there