Fakoyejo OlalekanThe President of the Nigeria Labour Congress (NLC), Joe Ajaero, has warned that Dangote Petroleum Refinery could become a dictator and might not reduce the price of Premium Motor Spirit (PMS), also known as petrol.
Ajaero said he applauds the Dangote Refinery, but he’s doubtful of the company bringing down the cost of petrol to the benefit of Nigerians.
Join our WhatsApp ChannelDue to the Dangote refinery being the only refiner at its scale in operation, the NLC president said the firm could grow into a dictator in the market, which is dangerous in the private sector.
While fearing Dangote Refinery could become a monopoly in the oil market, Ajaero wondered if the refiner could meet the fuel consumption volumes of Nigerians.
He made his doubts known during an interview with Channels TV on Wednesday, stating: “First, I commend Dangote Refinery but the provision of having dictatorship of the market especially in the private sector is dangerous. Now that is what we are experiencing in the area of cement production. What is Dangote Refinery going to produce? Will it be enough?
“He has done enough to build a refinery. If three or four companies like that are refining then you are talking of competition.
“So, I think while we commend Dangote as a good Nigerian, we are talking about competition, we are talking of deregulation. So Dangote has done well, but can Dangote take care of 30% of the needs of Nigerians?”
Meanwhile, Ajaero has criticised the public statement of President Bola Tinubu on fuel subsidy removal, stating his insensitivity has increased the hardship of Nigerians.
Recall that Tinubu told Nigerians on Monday, during his inauguration speech, that there is no longer subsidy, whereas, the subsidy is expected to last till June according to the 2023 budget of his predecessor, Muhammadu Buhari.
Condemning Tinubu’s statement, Ajaero said Tinubu’s public declaration has reduced the quality of Nigerian lives by 300 per cent: “By his insensitive decision, President Tinubu on his inauguration day brought tears and sorrow to millions of Nigerians instead of hope. He equally devalued the quality of their lives by over 300 per cent and counting.”
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