The Lagos State chapter of the Nigeria Labour Congress (NLC) has praised Dangote Refinery for its recent reduction in fuel prices, describing it as a timely economic relief for Nigerians burdened by the high cost of living.
In a statement on Wednesday, NLC Lagos Chairman, Funmi Sessi, highlighted the impact of the price adjustment, expressing optimism that it would ease transportation costs, lower the prices of goods and services, and offer financial respite to millions.
“This adjustment promises to offer much-needed relief for Nigerians who have been grappling with high fuel prices and the rising cost of living. If not for Dangote Refinery, we believe the government may still be importing fuel,” Sessi stated.
She noted that Dangote Refinery’s capacity of producing approximately 650,000 barrels per day far surpasses the combined output of 210,000 barrels per day from the Port Harcourt refinery and other refurbished facilities. This, she said, has introduced healthy competition in the sector, driving down fuel prices.
Sessi also revealed that the refinery had started exporting petroleum products to countries such as Ghana and Togo, a development she believes will contribute to stabilizing Nigeria’s currency.
“At this instance, we want to commend Dangote for its timely intervention. The government should encourage Dangote and other players entering the market, as this will promote healthy rivalry and benefit Nigerians,” she added.
On the proposed 2025 budget, Sessi expressed cautious optimism, emphasizing the need for strict implementation. “If the government can be strict in implementing the budget, there will be improvements in security, food production, and other areas of the economy,” she said.
The NLC called on other stakeholders to follow the Dangote Group’s example, stressing that collaborative efforts were necessary to provide sustainable relief for Nigerians facing economic challenges.
