The Nigeria Labour Congress (NLC) has applauded Dangote Refinery for its recent decision to lower fuel prices, describing it as a much-needed economic relief for Nigerians.
Speaking on Tuesday, Funmi Sessi, the NLC Chairman for Lagos Council, highlighted the positive impact the refinery’s operations will have on reducing transportation costs, lowering the prices of goods and services, and providing financial relief to citizens.
“This adjustment promises to offer much-needed relief for millions of Nigerians who have been grappling with high fuel prices and the rising cost of living,” Sessi stated.
She further praised Dangote’s production capacity of 650,000 barrels per day, which she said far exceeds the combined output of the Port Harcourt refinery and another refurbished plant producing only 210,000 barrels daily.
“With this, Dangote has introduced healthy competition in the sector, and we are already seeing a reduction in petroleum prices,” she added.
Moreover, Sessi commended Dangote Refinery’s efforts in exporting petroleum products to countries such as Ghana and Togo, emphasizing that this move could help stabilize Nigeria’s currency.
She urged the government to encourage more private-sector investments in the oil sector to promote healthy competition.
“In this instance, we want to give credit to Dangote. We also appreciate its timely intervention,” she said.
She concluded by expressing hope that the 2025 budget, if properly implemented, would further enhance economic recovery, improve security, and boost food production across the nation.