The Nigeria Labour Congress (NLC) has hailed Dangote Refinery for its recent reduction in fuel prices, describing the move as a much-needed economic relief for Nigerians grappling with the high cost of living.
Speaking to journalists, the Chairman of the NLC Lagos Council, Comrade Funmi Sessi, emphasized that the intervention by Dangote Refinery came at a critical time.
She expressed optimism that the price reduction would lead to lower transportation costs, reduced prices of goods and services, and significant financial relief for struggling citizens.
“This adjustment promises to offer much-needed relief for millions of Nigerians who have been battling high fuel prices and the rising cost of living,” Sessi said.
She credited the refinery for its significant production capacity, noting that Dangote Refinery produces about 650,000 barrels of fuel daily, surpassing the combined output of 210,000 barrels per day from the Port Harcourt refinery and another recently refurbished facility.
“If not for Dangote Refinery, we believe the government would still be importing fuel,” she remarked.
“With this, Dangote has introduced healthy competition into the sector. We have started seeing reductions in petroleum prices, and the refinery has even begun exporting petroleum to countries like Ghana and Togo. This development is bringing stability to our currency,” Sessi added.
She urged the government to support Dangote Refinery and encourage more players to enter the sector to foster competition and drive further refinements.
“We welcome this relief and encourage other stakeholders to emulate the example set by Dangote Refinery for the benefit of all Nigerians,” she added.
The NLC chairman also commented on the proposed 2025 budget, expressing hope for economic revival if the government ensures strict implementation.
“With the budget, there is hope for Nigeria. If the government can be strict in its implementation, we will see improvements in security, food production, and other critical areas,” Sessi stated.
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