The Nigeria Labour Congress (NLC) has praised Dangote Refinery for reducing fuel prices, calling it a vital economic relief for struggling Nigerians. Speaking on Tuesday, Funmi Sessi, the NLC Lagos Council Chairman, said the move comes at a critical time when citizens face high living costs and financial strain.
Sessi commended Dangote Refinery’s operations, which she said are transforming Nigeria’s petroleum sector. She expressed confidence that the price cut would lower transportation costs, reduce the cost of goods and services, and ease the financial burden on households.
“This reduction provides much-needed relief for millions of Nigerians dealing with high fuel prices and rising living costs,” Sessi said. She pointed out that Dangote’s daily production of 650,000 barrels far exceeds the combined output of 210,000 barrels from the Port Harcourt refinery and another recently refurbished facility.
Sessi noted that Dangote Refinery’s entry into the market has introduced healthy competition. She highlighted that the refinery is already exporting petroleum products to countries like Ghana and Togo, which she believes will help stabilize the naira and reduce dependence on imports.
“If not for Dangote Refinery, Nigeria would still rely heavily on fuel imports. Now, with its capacity and competition, petroleum prices are stabilizing, and Nigerians are benefiting,” she said.
She urged the government to support Dangote and other private sector players to sustain competition and boost economic growth. She also welcomed efforts by the National Assembly to encourage the use of the naira for domestic transactions, stressing the need to strengthen the nation’s currency.
“The government should encourage Dangote and others in the sector to foster healthy competition. This will stabilize our economy and improve the lives of Nigerians,” Sessi added.
Sessi also spoke on the proposed 2025 budget, expressing hope for economic revival if the government implements it strictly. She said proper execution of the budget could lead to improvements in security, food production, and infrastructure.
“With this budget, there is hope for Nigeria. But the government must ensure strict implementation to see real improvements,” she concluded.