Home NEWS “Fuel Price Could Cost N1000 Per Liter By December,” according to Refinery...

“Fuel Price Could Cost N1000 Per Liter By December,” according to Refinery Monopoly.


According to the Nigeria Labour Congress (NLC), the pump price of gasoline might reach N1000 per liter by the end of the year if the Federal Government does not liberalize the oil sector to encourage more private investment.

In an interview with Arise Television on Sunday, the Union’s President, Joe Ajaero, said that “Dangote’s fuel production monopoly and non-functioning refineries limit market competition.”

“Without other players in the sector, gasoline prices may reach N1,000/Litre by December,” he asserted.

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The NLC president stressed that there might not be any competition in the market and the cost of the good might keep rising unless the refineries in Port Harcourt, Warri, and Kaduna are in good condition.

“If Dangote is the only producer, how can there be market forces? Are we not preserving a private sector monopoly that is worse than the one the NNPC has been preserving in the public sector?

What’s happening with the cement business and other sectors? Why aren’t the refineries in Port Harcourt, Warri, and Kaduna operating? He asked.

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However, Reno Omokri, a former adviser to Goodluck Jonathan on the presidential campaign, responded to his position on Monday through Twitter, stating that the NLC president is hurting Nigeria by assaulting its most important asset.

“I’m curious as to why Joe Ajaero, President of the Nigerian Labour Congress, criticized the Dangote Refinery yesterday on AriseTV. A refinery with 100,000 Nigerian workers? The NLC ought to be pleased about that, right? Whose fault is that if he believes a monopoly would result?

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“The Jonathan government issued numerous permits. One and only Dangote used his. An individual in Ajaero’s position ought to support the Dangote Refinery since it serves a crucial national interest. The Dangote refinery should not be threatened by Ajaero. Undermining it also means undermining Nigeria.

Does he support our continued gasoline imports? What justifies destroying a resource that is vital to Nigeria’s national development? Omogi questioned.


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