In what appears to be a conspiracy against the Nigerian people, some government officials and oil cabals have been accused of sabotaging efforts aimed at forcing petroleum pump price down.
The accusation is coming amid assurances by the President Bola Tinubu’s administration that the Dongote refinery when operational would engender competition that would push oil price down and in effect set the tone for Nigeria’s economic recovery.
Devakumar V.G. Edwin, the Vice President of Dangote Industries Limited who voiced frustration over the boycott of Dangote Refinery’s products by local marketers said that despite the Dangote Refinery’s substantial production capacity, local marketers are purchasing only about 3% of its output.
Speaking in an X space, Edwin disclosed that despite the refinery’s efforts to offer affordable petroleum products, many Nigerian traders continue to import refined products rather than sourcing from the local refinery.
He said the development has forced the refinery to export its excess refined products originally meant to service the local market.
“The whole purpose of doing this refinery in Nigeria was to utilize our local crude instead of exporting raw materials and importing finished products. We should be able to refine and use the finished products within Nigeria and produce more to export the surplus,” he explained
Tinubu had in his inaugural speech announced the removal of fuel subsidy. Since the announcement, the increase in petroleum pump price has hindered efforts to control inflation and end the hardship faced by most Nigerians.
