The Nigeria Labour Congress (NLC) and Civil Society Organisations (CSOs) have expressed dissatisfaction with the recent reduction in the price of petrol to N935 per litre, calling for further cuts.
While the price drop, announced by Dangote Petroleum Refinery in collaboration with MRS Oil and Gas, brought the cost of petrol down from over N1,030/litre in Lagos and N1,060/litre in Abuja, the labour unions argue that the new price is still too high.
They argue that the pricing mechanism remains based on imported products, despite Nigeria having local refining capacity.
NLC official Chris Onyeka emphasised that the true cost of domestic refining, particularly at refineries like the Port Harcourt refinery, should determine the price of petrol.
The CSOs also voiced concerns, with some pointing out that Dangote’s refinery suggested a potential price of N650 per litre, which they believe is possible given Nigeria’s refining capacity. Ibrahim Rafsanjani of the Civil Society Legislative Advocacy Centre questioned why government-owned enterprises cannot reduce prices as significantly as private companies, which still make profits at lower prices.
Despite the price drop, the new rate has not been uniformly implemented across all stations.
Some independent marketers continue selling at higher prices due to existing stock purchased at previous rates.
While the reduction has been welcomed by consumers in certain areas, many still see the N935/litre price as inadequate, especially in light of Nigeria’s local refining potential.
