By Rukayat Moisemhe
The Lagos Chamber of Commerce and Industry (LCCI) has commended Dangote Refinery for reducing fuel price to N970 per litre from N990.
Its Director-General, Dr Chinyere Almona, said in a statement yesterday in Lagos that the development demonstrates the refinery’s capacity and readiness to meet local petroleum demands.
Almona said the company’s proactive approach to addressing energy challenges deserved widespread recognition and encouragement.
According to her, it sets a benchmark for excellence and innovation in Nigeria’s energy sector and offers much-needed relief amid prevailing economic challenges.
She noted that, beyond the Dangote refinery’s gesture to reduce fuel prices, Nigerians could begin to expect a lower petrol price.
She said this was possible should the government decide to sustain the naira for crude supply to local refineries, which would then refine oil for the Nigerian market.
Almona said Nigeria could discontinue fuel importation altogether, with local fuel becoming more competitive and readily available.
“We can only begin to imagine the massive savings for the government and the reduction in the burden on the citizens when we start to save billions of dollars from the total removal of subsidies, zero debt to fuel importers, and no more queues and loss of man-hours at our filling stations.
“This can be a reality if the government can wield the political will and deploy the appropriate economic policies to implement the reforms in the oil and gas sector,” she said.
