A chieftain of the All Progressives Congress (APC) in Osun State, Olatunbosun Oyintiloye, has appealed to President Bola Tinubu to push for the downward review of the current pump price of the Automotive Gas Oil (AGO), popularly called diesel that is being produced by the Dangote Petroleum Refinery.
Oyintiloye, who appealed yesterday while addressing journalists in Osogbo, said the N1,225 pump price by
the refinery was on the high side for a product coming from an indigenous company.
According to him, there should be a major difference between the pump price of imported diesel and the one coming from an indigenous refinery.
Oyintiloye, a former member of the defunct APC Presidential Campaign Council (PCC), said Nigerians believed that once the Dangote refinery starts producing, it would force the price of diesel and other petroleum products down.
The APC chieftain said that the information by the Independent Petroleum Marketers Association of Nigeria that the product was being brought in by importers at the rate of N1,250 per litre following the appreciation of the naira against the dollar was a pointer to the fact that the president’s urgent intervention would be needed in fixing the price of product coming from a local refinery.
Oyintiloye, a former lawmaker said that since the product was being produced locally without vessel cost, import charges, and other costs associated with the importation of the commodity into Nigeria, the price should be cheaper than what is being imported.
“There is no doubt that Nigerians are happy with the commencement of the operation of the Dangote Refinery. We commend Alhaji Aliko Dangote for the project. It is a huge one for the benefit of our economy.
“That the refinery has started releasing Petroleum products to the market is a thing of joy for all Nigerians and a sign of good things to come. It is what we are all looking forward to, but for it to have a positive impact on our economy, we appeal to the president to intervene in fixing the price of the products coming from the refinery.
“What will be the justification that a product coming from Lagos is having the same cost as the one imported from another continent? Nigerians are sensitive, they will ask questions.
“If some marketers are importing diesel at N1,250 according to IPMAN, and Dangote Refinery is selling at N1,225, then what is the essence that a Nigerian company is producing for us?
“Since the product is coming from an indigenous refinery, expenses on logistics in the area of importation, clearing, and other activities associated with bringing products into the country will be very minimal. The managers of the refinery should review the price downward.
“In actual sense, the N1,225 pump price will be too high for other marketers outside Lagos due to logistics expenses”, he said.
Oyintiloye, who noted that the Renewed Hope Agenda of the president had started yielding appreciative results, said that in no distance time, other indigenous refineries would be revived, making petroleum products cheaper.
