By Abubakar Ojima-Ojo
Nigerians are eagerly awaiting the launch of Dangote Fuel, scheduled to hit the market this month. The anticipation is palpable as Africa’s richest man enters the oil and gas sector, promising to disrupt the industry and significantly impact the market.
The development has sparked widespread discussion among citizens, with many expressing excitement and expectations for its potential economic benefits and impact on their daily lives.
The Dangote Refinery, a multi-billion-dollar project, is expected to produce substantial amounts of fuel, potentially reducing Nigeria’s reliance on imported petroleum products. This could stabilize fuel prices and improve availability nationwide.
Many Nigerians hope this new supply will alleviate the frequent fuel shortages that have plagued the nation for years, providing relief to consumers burdened by fluctuating fuel costs.
The buzz around Dangote Fuel is also linked to broader expectations of job creation and economic growth. As one of the world’s largest refineries, it’s anticipated to generate thousands of jobs and stimulate related industries. As Nigerians eagerly await the official market entry of Dangote Petroleum, the nation watches closely, hoping this move will usher in a new era of ending long fuel queues and reducing fuel prices.
“Coming Dangote refinery into the market should be good things that ever happens to this county,” said Okai.
In an interview with Citizenship Daily, politician and human rights activist Usman Okai Austin explained, “I think the government said they have removed the subsidy, and while doing that, Petroleum Motor Spirit would be like MTN.”
He argued that Dangote should be allowed to set fuel prices, advocating for market forces to determine costs and eliminating the need for negotiations with the Nigerian National Petroleum Company (NNPC).
“The reasons fuel is expensive is because of landing costs. Now, with the coming of Dangote PMS, we don’t need to pay landing costs again because they are loading directly from NNPC to Dangote’s depot. Why are they disturbing?
“Why can’t they allow market forces to decide? That’s my point. Whether Dangote sells PMS for 1000, 200, the government shouldn’t interfere.
“There’s more to this subsidy removal we’re talking about. When you remove the subsidy, allow market forces to decide.
“He said places in Anyigba in Dekina local government areas of Kogi state are buying fuel at the rate of 1,000 and others, 900, 700, 800. Is it that the government is only for Abuja people?
“The issues of Dangote PMS coming to the market would crash fuel prices, and that is why internal forces are fighting him because we don’t know who the subsidy is being paid to.
“If the government is sincere about removing the subsidy, they should allow free market flow. Allow the Dangote refinery to enter the market and let consumers decide what to buy.
“Coming Dangote refinery into the market should be good things that ever happens to this county.”
Economist Husseini Suleiman told Citizenship Daily that while the removal of the fuel subsidy contributed to rising prices, the floating of the naira also played a role.
“So, I feel once the Dangote Refinery pumps petroleum products into the market, the absence of landing costs might reduce PMS prices, but with a devalued naira, the decrease might not be significant enough to lower overall prices to a level the average Nigerian can afford.”
Suleiman asserted, “There must be a subsidy on either energy (fuel or electricity) or food to guarantee food and energy security, otherwise, the poor will continue to suffer. Most countries prioritize food and energy security to guarantee national security.”
Journalist Onoja Johnson Baba told Citizenship Daily, “I feel Dangote’s refinery would have little or no impact on the cost of food and other essential amenities in Nigeria.
“Take a clue from his cement. Are his cements affordable in Nigeria? He is only going to be another oil producer among private oil marketers frustrating Nigerians out of greed while our government watches or even aids them in making life difficult for us.
“Aside from Dangote, talking about the issue of landing costs, have we not seen that sometimes our locally produced things become even more expensive than expected?
“For me, the solution to the current situation is simple: the government should return the subsidy and employ means to strictly monitor how the funds circulate to reach the target beneficiaries.
“What is the EFCC doing that they can’t track the corruption surrounding subsidy implementation?”
Current affairs analyst Muhammed Jemilu pointed out that based on various analyses, the commencement of the Dangote refinery could provide relief.
“It is now evident with the way international oil magnates are fighting the refinery from achieving its full potential.
“The consistent push to demarket the refinery has convinced many of us beyond reasonable doubt that there will be an impact from the refinery’s output.
“It’s a capitalist country, anyone who feels Dangote refinery is a savior should ask themselves if Dangote cement and other products involving landing costs are affordable.”
