The Dangote Petroleum Refinery announced a reduction in its Premium Motor Spirit (PMS) price, better known as petrol, to ₦970 per litre. This supposed “gesture of goodwill” was confirmed on Sunday by Anthony Chiejina, the company’s Chief Branding and Communications Officer.
The announcement comes hot on the heels of the refinery’s recent ex-depot price of ₦990 per litre, which many had already criticized as exorbitant. But a ₦20 slash per litre is apparently their way of “appreciating Nigerians” for supporting the refinery project, a project that, let’s be true, has been celebrated more for its monopoly than for solving the fuel crisis.
“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement read.
Chiejina went on to assure Nigerians of “environmentally friendly and sustainable” products. Let’s not forget the bigger picture, ramping up production to meet domestic fuel consumption shouldn’t feel like a favour; it’s the bare minimum expectation for a refinery of this scale.
The refinery, located in Lekki, Lagos, claims the reduction will save marketers about ₦20 per litre. While this might sound like a win for businesses, what does it really mean for everyday Nigerians who still pay high prices at the pump? Will this minor price adjustment trickle down to consumers, or is it just another clever move to appear benevolent while the real gains remain firmly in corporate pockets? typical Nigerian behaviour but we know better.
For now, the refinery seems to be patting itself on the back for a gesture that many would argue is not sufficient.
