The Nigeria Labour Congress (NLC), Lagos Council, has praised Dangote Refinery for its recent fuel price reduction, describing it as a timely economic relief for Nigerians grappling with the high cost of living. The commendation was made in a statement on Wednesday by the NLC State Chairman, Funmi Sessi, who highlighted the positive impact of the price slash on the economy.
According to Sessi, the reduction is expected to ease transportation costs, lower prices of goods and services, and provide financial relief to citizens. “This adjustment promises to offer much-needed relief for millions of Nigerians who have been struggling with high fuel prices and the rising cost of living,” she stated.
The chairman also acknowledged Dangote Refinery’s significant production capacity, noting its 650,000 barrels per day output, which surpasses the combined capacity of the refurbished Port Harcourt and other refineries producing 210,000 barrels daily. This, she said, has introduced healthy competition in the petroleum sector and contributed to the ongoing price reduction.
Sessi further noted that Dangote Refinery’s export of petroleum products to neighboring countries like Ghana and Togo is a positive development that could stabilize Nigeria’s currency. She called on the government to support Dangote and other players entering the sector to foster more competition and innovation.
The NLC Chairman also expressed hope for economic revival, urging the government to ensure strict implementation of the proposed 2025 budget. She emphasized that improved security, food production, and economic reforms would significantly enhance the quality of life for Nigerians.
