As discussions swirl around the recent deal between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) regarding fuel prices, there’s significant pushback from various quarters.
The House of Representatives Minority Caucus has taken a strong stance, denouncing the N980 per litre price tag as excessive and exploitative.
Kingsley Chinda, the Chairman of the caucus, has voiced his dissatisfaction with the new fuel pricing, describing it as an additional strain on Nigerians who are already grappling with economic difficulties.
In a statement released on Tuesday in Abuja, Chinda expressed his frustration over the varying pump prices, which range from N950 to N980 and even exceed N1000 per litre in different regions.
Chinda’s statement highlights a key concern: the local fuel pricing regime is not only burdensome but also seems unjustifiable, particularly since the fuel is refined within the country.
He argues that locally refined fuel should be priced much lower than imported fuel because it circumvents extra costs like landing charges and import duties.
According to him, this pricing approach is flawed and unfair to Nigerians.
The caucus warns that if the current pricing structure persists, it will exacerbate the economic hardships faced by millions of Nigerians and undermine confidence in the ability of local refineries to provide affordable fuel.
They are urging NNPCL and Dangote Refinery to reconsider their pricing strategy to benefit the less fortunate and ensure the masses are not burdened with unsustainable fuel prices.
In closing, the caucus reaffirms its dedication to safeguarding the welfare of Nigerians.
They pledge to engage with relevant stakeholders and regulatory bodies to push for a review of the pricing framework, ensuring that fuel prices are fair and just for all citizens.
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