The recent reduction in petrol prices by the Nigerian National Petroleum Company (NNPC) and Dangote Refinery has drawn mixed reactions from Nigerians especially in Lagos.
Recall that President Bola Tinubu removed the fuel subsidy shortly after assuming office in May 2023.
He stated that the subsidy was removed to reduce the heavy financial burden on the government and to redirect funds towards critical sectors such as infrastructure, healthcare, and education.
Since then, the prices of petrol and other crude oil products have risen, leading to a corresponding increase in the cost of living and widespread economic hardship.
Following NNPC’s decision to reduce the pump price from N935 to N910 per litre in the Federal Capital Territory, alongside Dangote’s earlier cut to N825 per litre, many citizens have expressed hope that this competition may bring real relief to consumers and subsequently reduce the PMS price to N200 per litre.
Mrs. Dayo Feranmi, a cloth dealer in Egbeda area of Lagos, explained, “The fuel price really affects how we sell and buy things for the market. In 2022, I used to buy a bale of ladies’ tops for as low as a hundred thousand. Now, I buy for almost three hundred thousand, because of the high cost of transporting these bales. If NNPC and Dangote keep their prices low for a long time, it will help people like me, because transport and goods will become cheaper. That way, we can manage our money better and buy what we need without too much stress. But I pray this one no be just for now, if they keep the price low steady, na so we go survive well.”
Mr. John Okoro, an okada rider said, “This fuel issue is really disturbing. I buy fuel every day, and now it’s 800 or even 900 naira per litre. How can someone survive like that? They say NNPC and Dangote are in a price war, but it doesn’t make sense if fuel is still that expensive.
“The only time Nigerians like me will thank NNPC or Dangote is if the price comes down to 200 naira per litre. That’s when it will truly help. Right now, things are very hard. Food is expensive, transport is expensive, and life is just getting harder.
“The government doesn’t seem to care. They are busy spending money and ignoring how the people are suffering. It’s like no one is looking out for us.”
Jessica Uloko, a student questioned the government’s heavy reliance on the Dangote Refinery.
She asked why a country with three existing refineries, Warri, Kaduna, and Port Harcourt should depend on a private company for fuel production.
“This price war between NNPC and Dangote is not helping us. Fuel prices are still very high, so it doesn’t change much for ordinary people.
“The only time we will truly benefit is when fuel prices are lowered and stay low, not just changed to compete for show.
“I don’t understand why the government is depending so much on Dangote Refinery. We have three refineries, Warri, Kaduna, and Port Harcourt, but they’ve been abandoned for years.
“Billions were set aside to fix them, yet nothing happened. Now, EFCC is arresting people for money. It’s clear the government is just eating the money and letting poor Nigerians suffer.”
