The country’s escalating petrol prices have alarmed the Nigerian Labour Congress (NLC), which claims that the present pump price is much more than the real market value.
The NLC accused “fat cats” in the petroleum business of increasing petrol prices above normal limits in a statement released on Sunday and signed by its president, Joe Ajero.
Ajero further said that manipulation is the main cause of the recurrent conflicts between local traders and Dangote Refinery.
To alleviate the crisis, the union also demanded that the nation’s refineries, particularly those in Port Harcourt and Warri, be activated immediately.
NLC’s Statements
The organized labour group’s statement said:
“The NEC-in-session noted with increasing dismay the shenanigans around the appropriate pricing of petrol (PMS) in Nigeria.”
“It observed that there may be a gang-up against Nigerians by fat cats in the industry as the current price of the product is significantly higher than the real market price. Padding of costs and abnormal margins seems to be the order of the day considering the revelations from the ongoing controversy between marketers and the Dangote group.”
“It is entirely possible that Nigerian workers and masses are being ripped off by those who control the levers of economic power in Nigeria, which explains why the domestic public refineries may not immediately be allowed to come on stream.”
“NLC demands appropriate pricing of petrol and calls for the public domestic refineries in Port Harcourt, Warri, and Kaduna to quickly come back on stream to break up the monopolistic stranglehold the big players have on the industry.”
What To Note
Following the elimination of subsidies, fuel prices have gradually increased as the government still struggles to control the delivery of petrol to retailers and filling stations.
Over the past few months, the Nigerian National Petroleum Corporation (NNPC) Limited has regularly raised the price of petrol, citing market conditions as the reason.
Conversely, other marketers contend that importing petrol could decrease the cost of goods.
On the other hand, the Dangote Refinery insists that it bases its product prices on market conditions, even though its petrol prices range from N970 to N990.
The refinery managers added that any company that sells imported petrol at a discount is either stealing crude oil or trading in contaminated fuel.
The conflict between Dangote and marketers has now turned into a court case that is pending resolution.
