The Coalition of United Political Parties (CUPP) has called out the Dangote Refinery over the steep price of petrol, labeling the current cost of N898 per litre as unjustifiable given the advantages of domestic refining. In a statement signed by Chief Peter Ameh, the CUPP National Secretary, the group expressed concern over the refinery’s pricing structure, questioning the lack of transparency and accountability in the energy sector.<\/p>\n
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\u201cThe high cost of fuel purchased from Dangote Refinery is unjustifiable, especially considering the absence of tariffs, landing costs, and port charges,\u201d Ameh stated. He argued that with crude oil supplied in local currency, the refinery’s production costs should be significantly lower, making the high pump price difficult to understand.<\/p>\n
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Ameh urged the Dangote Refinery to provide a detailed breakdown of its production costs to justify the current pricing, which has put a strain on the average Nigerian consumer. \u201cThe lack of transparency and accountability in the pricing mechanism is alarming,\u201d he added, pointing out that the Nigerian National Petroleum Company Limited\u2019s (NNPCL) recent disclosures suggest a potential conspiracy to maintain an exploitative pricing regime.<\/p>\n
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The CUPP expressed disappointment that domestic refining, which should offer significant benefits by cutting costs associated with fuel imports, has not translated into lower fuel prices. “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,” Ameh lamented.<\/p>\n
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He further highlighted that Nigerians were led to believe that local refining would result in more affordable energy, but the current pricing only perpetuates the exploitation of vulnerable citizens. CUPP\u2019s statement questions whether the advantages of local refining are being effectively realized, considering that fuel prices remain exorbitantly high compared to global standards.<\/p>\n
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The CUPP also called on the National Assembly to step up regulatory oversight in the energy sector. According to the statement, the government must empower independent regulatory bodies to monitor pricing mechanisms and prevent the exploitation of consumers. “The NNPCL\u2019s disclosure highlights the need for transparency, accountability, and regulatory oversight by the National Assembly in the energy sector,\u201d Ameh stated, urging lawmakers to protect the interests of the Nigerian people.<\/p>\n
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The statement further stressed that the Dangote Refinery must justify its pricing by providing a transparent breakdown of production costs. Additionally, the NNPCL was urged to negotiate more competitive prices, ensuring that consumers are not burdened by artificially inflated costs.<\/p>\n
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CUPP insists that unless a regulatory framework is put in place to ensure fair pricing and protect consumers, the promise of affordable, locally refined fuel will remain unfulfilled. \u201cOnly then can Nigeria unlock the true potential of domestic refining and ensure affordable energy for its citizens,\u201d the statement concluded.<\/p>\n
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This outcry comes at a critical time for Nigeria’s energy sector, as the removal of fuel subsidies and the high cost of living continue to generate widespread discontent. With fuel being a vital commodity, any increase in its price reverberates across the economy, affecting transportation, food prices, and other essential services. As public frustration grows, the pressure on the government and private entities like the Dangote Refinery to address these concerns is mounting.<\/p>\n
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