By Frank Ikpefan,The Nation
Copyright thenationonlineng
Some civil society organisations (CSOs) have commended Dangote Refinery and Petrochemicals Company for lowering the price of premium motor spirit, otherwise known as petrol.
They said that the $20 billion investment is a world-class refinery that has greatly impacted the downstream oil sector, ending decade-long dependence on imported refined petroleum products, placing Nigeria on the map of oil exporters, reducing cost, and stabilising forex.
Addressing a press conference in Abuja over the weekend by a coalition of CSOs and anchored by the duo of Comrade Danesi Momoh Prince of Employment for Unemployed Youth Initiative (EUYI) and Comrade Igwe Ude-umanta, Guardians of Democracy and Development Initiative (GoDDI), the coalition praised Dangote for ending Nigeria’s “moments of embarrassment and decried the incessant attacks on the oil giant.”
The CSOs said, “We are grateful to Dangote for this breath of fresh air. During the inglorious period of petroleum products importation, criminal subsidy regime, sundry oil racketeering, and creation of product scarcity, both citizens and government suffered at the hands of groups like Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and some of their agents, such as Nigerian Union of Petroleum and Natural Gas Workers (NUPENG).
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“These petroleum products importers who became overnight billionaires for producing nothing never cared about the future, either of their business survival or the country. Being accustomed to free cash and economic manipulation, they had only hoped to frustrate any attempt at making Nigeria a petroleum refining country so that the Nigerian downstream sector would continue to groan under them.
“It was for this reason that the eventual take-off of the Dangote Refineries met with stiff opposition, prompting the decisive intervention of President Bola Ahmed Tinubu, whose backing ensured that the plot to frustrate the refinery did not succeed. Any attempt to reverse the gains already being recorded will be resisted by our organisations and other well-meaning Nigerians.
“So far, the only argument that DAPPMAN hopes that gullible Nigerians could buy is to create a nonexistent fear about Dangote Refineries trying to become a monopoly. That is not true because that same monopoly is crashing petroleum prices, creating thousands of jobs, helping our balance of trade and payments, and putting good money in the nation’s coffers. That must be a progressive monopoly.
“For the avoidance of doubt, following the removal of oil subsidy in May 2023, product prices peaked at N1,700 for Automotive Gas Oil (AGO) and N1,020 for Premium Motor Spirit (PMS) at some point. But today, AGO is as low as N1,030 and PMS, N855. This is due to Dangote Refineries’ continuous intervention in lowering prices in the interest of local consumers.
“Nigerians have also not forgotten that this same DAPPMAN claimed that they can compete with Dangote Refineries through importation. We dare ask: what has changed that they are complaining about ‘unfair price crashes’ from Dangote Refineries? Nigerians need every price crash. We have suffered enough at the hands of cartels.”
They added, “We must warn! Dangote Refineries is a private business. It should be allowed to run unhindered. DAPPMAN or any other group or persons are encouraged to build their own refineries, continue importation of products, or negotiate in a civilised manner with the management of Dangote Refineries, rather than the subterfuge sabotage of a refinery, which is a national pride. They should not stir the anger of Nigerians.
