Refinery Monopoly: “Fuel Price Could Cost N1000 Per Liter By December – NLC Warns

  


  The Nigeria Labour Congress (NLC), says if the Federal Government fails to liberalize the oil sector to allow for more private individuals to invest, the pump price of petrol may hit N1000 per liter by end of the year.

Joe Ajaero, the Union’s President, who made the remark while speaking with Arise Television on Sunday, submitted that “Dangote’s fuel production monopoly and non-functioning refineries limit market competition.”


According to him,

“Without other players in the sector, petrol prices may reach N1,000/Litre by December.”


The NLC president insisted that until the refineries in Port Harcourt, Warri, and Kaduna are in good shape, there may be no competition in the market and the price of the product may continue to skyrocket.


“How can there be market forces if Dangote is the only one producing? Are we not maintaining a private sector monopoly which is even worse than the public sector monopoly that the NNPC has been maintaining?


“What is the situation in the cement industry and other areas? Why are the Port Harcourt, Warri and Kaduna refineries not working?” He queried.


However, Reno Omokri, a former presidential aide to Goodluck Jonathan reacted to his stance via Twitter on Monday saying, the NLC president is undermining Nigeria by attacking its crucial asset.


“I wonder why Joe Ajaero, the President of the Nigerian Labour Congress, was criticising Dangote Refinery on AriseTV yesterday. A refinery that will employ 100,000 Nigerians? Shouldn’t the NLC be happy about that? If he thinks it will lead to a monopoly, whose fault is that?


“The Jonathan administration gave multiple licenses. Only Dangote utilised his. A man in the position that Ajaero occupies should rather encourage Dangote Refinery, that is fulfilling a vital national interest. Ajaero should not undermine the Dangote refinery. To undermine it is to undermine NIgeria. Does he want us to keep importing fuel? What is the basis for attacking and asset that is crucial to Nigeria’s national development?” Omokri queried.

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