Labour, CSOs demand further petrol price cuts, say N935/litre too high

• The NLC and CSOs called for further petrol price cuts, deeming N935 per litre too high despite recent reductions
• They argued that Nigeria’s local refineries should drive petrol prices, not imports
• Meanwhile, petrol prices have remained inconsistent across stations, with some marketers continuing to charge higher rates

The Nigeria Labour Congress (NLC) and Civil Society Organisations (CSOs) have expressed dissatisfaction with the recent reduction in the price of petrol to N935 per litre, calling for further cuts. 

While the price drop, announced by Dangote Petroleum Refinery in collaboration with MRS Oil and Gas, brought the cost of petrol down from over N1,030/litre in Lagos and N1,060/litre in Abuja, the labour unions argue that the new price is still too high. 

They argue that the pricing mechanism remains based on imported products, despite Nigeria having local refining capacity. 

NLC official Chris Onyeka emphasised that the true cost of domestic refining, particularly at refineries like the Port Harcourt refinery, should determine the price of petrol.

The CSOs also voiced concerns, with some pointing out that Dangote’s refinery suggested a potential price of N650 per litre, which they believe is possible given Nigeria's refining capacity. Ibrahim Rafsanjani of the Civil Society Legislative Advocacy Centre questioned why government-owned enterprises cannot reduce prices as significantly as private companies, which still make profits at lower prices.

Despite the price drop, the new rate has not been uniformly implemented across all stations. Some independent marketers continue selling at higher prices due to existing stock purchased at previous rates. 

IPMAN members to directly load petrol from Dangote refinery at N990/litre

Meanwhile, TheRadar reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced a groundbreaking agreement with the Dangote Petroleum Refinery to directly lift petrol from the country’s largest refinery in Lekki, Lagos. 

Over 30,000 IPMAN members are set to buy Premium Motor Spirit (PMS) in bulk, marking a major shift in Nigeria’s petroleum distribution network.