NNPC-Dangote Refinery Price War is Fraudulent, Unacceptable – NLC President Ajaero

The President of the Nigerian Labour Congress (NLC), Comrade Joe Ajaero, has described the ongoing price conflict between the Nigerian National Petroleum Corporation Limited (NNPCL) and the Dangote Refinery as fraudulent. Ajaero argued that in a deregulated economy, competition and consumer choice should prevail, accusing the government of unfairly interfering in private sector pricing.

Speaking to journalists at Murtala Muhammed Airport Terminal Two on Wednesday, Ajaero expressed concerns that the federal government is attempting to frustrate the operations of the Dangote Refinery. He also highlighted the government’s failure to repair state-owned refineries as promised in August 2023, noting that as of September 2024, none of the refineries are functional.

Ajaero criticized the government’s policy inconsistencies, blaming them for the ongoing price war between NNPCL and Dangote Refinery. He questioned the logic behind regulating the price at which Dangote should sell its locally produced petrol, calling the move “fraudulent” and an attempt to dictate terms to the private sector.

“For a product produced locally without the need for imported dollars or landing costs, it’s unfair and fraudulent to expect Dangote to sell at the same price as imported fuel,” Ajaero stated, urging Nigerians to voice their concerns over government interference in private business operations.

On the issue of the newly agreed N70,000 minimum wage, Ajaero assured that there is no cause for concern, as the government is committed to its implementation. He noted that the consequential adjustment committee is working towards rolling out the new wage, and with the bill passed by the National Assembly, the wage increase is set to be enforced according to the April 2024 agreement.