The Coalition of United Political Parties, (CUPP) has berated Dangote Refinery over the high cost of Premium Motor Spirit (PMS) popularly known as petrol.
Nigerians have expected cheaper petrol from the Dangote Refinery but their hope was dashed following the release of the pricing templates by the Nigerian National Petroleum Company Limited (NNPCL) on Monday.
In the template, the cost of petrol was pegged at N950.22 per litre across all its retail outlets in Lagos up from the current N898.
Furthermore, the product is expected to sell for as high as N1,019.22 per litre in Borno State.
This development has drawn the ire of CUPP which raised questions about the cost of production, transparency, and the alleged continued exploitation of the Nigerian masses.
In a statement signed by its National Secretary, Chief Peter Ameh, the coalition wondered why the product from the local refinery would sell at such an exorbitant price in the absence of landing fees, port charges, tariffs and other sundry costs.
CUPP demanded a detailed breakdown of its cost of production and urged the NNPCL to negotiate competitive prices.
The statement read: “The high cost of fuel purchased from Dangote Refinery is unjustifiable, especially considering the absence of tariffs, landing costs, and port charges.
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“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 is higher than normal, perpetuating the exploitation of vulnerable Nigerians.
“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.”
By: Babajide Okeowo
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