The Nigeria Labour Congress (NLC) has described the Dangote Petroleum Refinery as a game-changer for Nigeria’s energy sector, stressing that its full operation could lead to a significant reduction in fuel prices across the country.
In a statement issued on Tuesday, the NLC urged the Federal Government to prioritise selling crude oil to the 650,000 barrels-per-day facility in naira rather than dollars. According to the labour body, this move would not only cut production costs but also protect the local market from the volatility of foreign exchange rates.
The Congress noted that since the refinery began partial operations, the domestic market has witnessed relative stability in fuel prices, averting what could have been sharper hikes due to global crude price fluctuations.
“The Dangote Refinery presents Nigeria with a rare opportunity to achieve fuel self-sufficiency, reduce import dependency, and create thousands of direct and indirect jobs,” the NLC stated. “Selling crude to the refinery in naira will further strengthen our economy and provide affordable fuel for Nigerians.”
The union also called for deliberate policies to support other modular and large-scale refineries across the country, arguing that a robust local refining capacity would save Nigeria billions of dollars spent annually on fuel imports.
Industry experts have projected that once the Dangote Refinery reaches full capacity, it could meet all of Nigeria’s domestic fuel demand and even export to other African markets, boosting national revenue.