The Nigeria Labour Congress (NLC) and various civil society organizations (CSOs) have expressed dissatisfaction with the recent reduction in the price of petrol, which now stands at N935 per litre. Despite the price drop from over N1,030 per litre in Lagos and over N1,060 per litre in Abuja, the groups insist that this adjustment falls short of expectations and is still too high for the average Nigerian.
The announcement of the price reduction followed a collaboration between Dangote Petroleum Refinery and MRS, marking a significant shift in the market after months of soaring fuel prices.
The new price came into effect after the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that petrol would now be sold at N935 per litre, a move facilitated by Dangote’s partnership with MRS and the reduction of ex-depot price to N935 from N970 per litre.
However, this change has been met with vocal opposition from both the NLC and CSOs, who argue that the price remains unaffordable and that further reductions are necessary.
Speaking to newsmen, Chris Onyeka, a senior official of the NLC, rejected the recent price adjustment, claiming that the government and Nigerian National Petroleum Company Limited (NNPC) should not be commended for a price still deemed too high.
Onyeka emphasized that while the NLC recognizes a nominal drop, it is unacceptable that Nigerians are still subjected to high fuel prices, especially given the country’s domestic refining capacity.
“The price should not be based on imported products when we have refining capacity within the country, the correct price for petrol should be determined by the actual cost of refining locally, such as in the Port Harcourt refinery. We need transparency and fairness in pricing.”
He further condemned the costs embedded in the current pricing framework, which includes foreign labor, freight charges, insurance, logistics, and overseas profits. These, Onyeka stated, unjustly burden Nigerian citizens.
“We cannot applaud this as a victory. It’s like someone stealing your money and then returning part of it, asking you to be grateful,” he added.
The NLC’s position reflects growing frustration over the rising cost of living, with fuel prices at the forefront of the crisis. Petrol is a key contributor to Nigeria’s inflation, directly impacting the cost of transportation and other basic goods.
The response from CSOs was similarly critical. Debo Adeniran, Chairman of the Centre for Accountability and Open Leadership, expressed disappointment with the current pricing, calling it “still expensive.” Adeniran raised the point that if Nigeria’s refineries, especially the newly operational Dangote refinery, could sell petrol at N935 per litre, it was likely that both the government and private companies could afford to offer petrol at even lower prices.
“Dangote’s projections for even lower prices, possibly as low as N650, indicate that the government is a barrier to progress in price reduction. Countries like Libya, under Gaddafi, managed to offer petrol for free without incurring losses. If they can do it, so can Nigeria,” Adeniran argued.
Echoing a similar sentiment, Ibrahim Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre, commended the price reduction but asserted that there is room for further cuts. He cited Dangote’s ability to reduce prices while still maintaining profitability, questioning why state-owned enterprises could not follow suit and reduce prices further.
