Mobolaji Michael
DANGOTE Petroleum Refinery Limited must be compelled to provide a detailed breakdown of its cost of production, and the Nigerian National Petroleum Company Limited (NNPCL) must negotiate competitive prices.
These are the views of the National Secretary of the Coalition of the United Political Parties (CUPP), Chief Peter Ameh.
Chief Ameh was reacting to the claim by the NNPCL that Premium Motor Spirit (otherwise known as petrol) was bought at the rate of N898/Litre from Dangote Refinery, the social activist opined that the cost of the essential commodity was unjustifiable, “especially considering the absence of tariffs, landing costs, and port charges”.
The former National Chairman of the Inter-Party Advisory Council (IPAC) opined that with crude oil supplied in local currency, the refinery’s production costs should be significantly lower.
“ It is imperative that Dangote Refinery provides a detailed breakdown of its cost of production to justify the exorbitant price of N898 per litre.
“The lack of transparency and accountability in the pricing mechanism is alarming. The NNPCL’s revelation suggests a conspiracy to continue the exploitative price regime through the back door. This undermines the benefits of domestic refining and raises questions about the true advantages of local refining.
“Furthermore, the high cost of fuel per litre remains beyond the reach of the average consumer, defeating the purpose of having a refinery in the country. The cost of gasoline (fuel) is higher than normal, perpetuating the exploitation of vulnerable Nigerians.
“In my final analysis, the NNPCL’s disclosure highlights the need for transparency, accountability, and regulatory oversight by the National Assembly in the energy sector. Dangote Refinery must provide a detailed breakdown of its cost of production, and the NNPCL must negotiate competitive prices.
“The government must allow the independent regulatory body to monitor pricing mechanisms and protect consumers from exploitation. Only then can Nigeria unlock the true potential of domestic refining and ensure affordable energy for its citizens”, Chief Ameh stressed.
Eighteen-Eleven Media