NLC Accuses Dangote Group and Oil Marketers of Inflating Petrol Prices, Calls for Government Refineries to Resume Operations

The Nigeria Labour Congress (NLC) has accused the Dangote Group and oil marketers of conspiring to inflate the price of Premium Motor Spirit (Petrol) for Nigerians. This statement was released on Sunday following the NLC's National Executive Council (NEC) meeting on Friday.

According to the Union, the current price of petrol—ranging from N1060 to N1,200 per litre—exceeds its true market value, raising concerns about potential price manipulation. The NLC stated that high petrol prices indicate "cost padding and excessive profit margins" in Nigeria’s oil and gas industry, which negatively impacts the public.

The Union urged the Nigerian government to expedite the reopening of the Port Harcourt refinery and other government-owned refineries to alleviate the situation.

“The NEC-in-session noted with increasing dismay the shenanigans around the appropriate pricing of petrol (PMS) in Nigeria. It was observed that there may be a gang-up against Nigerians by powerful interests in the industry, as the current price of the product is significantly higher than the real market price.

“Padding of costs and abnormal margins seems to be the order of the day, considering the revelations from the ongoing controversy between Marketers and the Dangote Group.

“It is entirely possible that Nigerian workers and the masses are being overcharged by those who control the levers of economic power in Nigeria, which could explain why domestic public refineries may not be allowed to come on stream immediately.

“NLC demands appropriate pricing of petrol and calls for the public domestic refineries in Port Harcourt, Warri, and Kaduna to quickly come back on stream to break up the monopolistic stranglehold that major players have on the industry,” the NLC statement read.

It’s worth noting that the Dangote Group and petroleum marketers have been involved in a recent dispute over petrol pricing. The Dangote Group announced that its petrol prices are set at N960 and N990 per litre. However, petroleum marketers have claimed that imported petrol is available at a lower cost than Dangote's prices.

The Dangote Refinery, in response, refuted allegations that fuel importers were supplying cheap, substandard fuel.

Recent data from the Major Energy Marketers Association indicates that imported petrol currently has a landing cost of N971 per litre.