By Adenike Mathew
At the peak of the face-off between Aliko Dangote, owner of Dangote Refinery, and federal agencies regulating the petroleum sector, one key argument emerged: breaking monopolies would bring about fair pricing and regulate petrol costs.
But here we are, with Nigerians buying fuel at prices ranging from N1,050 to N1,200 per litre depending on location. The blame game began, and Dangote was vilified for the price hike. Questions like “Why are we buying fuel at such unrealistic prices?” were asked, while the Nigerian National Petroleum Company Limited (NNPCL) kept silent, allowing Dangote to take the heat as the fall guy.
Fast forward to a few days ago: NNPCL announced it would sell fuel refined at its Port Harcourt facility for N1,030 per litre. This is crude oil sourced locally, refined locally, and yet Nigerians are still buying fuel at astronomically high prices.
Rather than outrage, some Nigerians are oddly celebrating. Even supposed learned individuals have forgotten to ask the critical questions:
– Are we still importing this fuel?
– Do we still need foreign exchange (FX) to refine local crude?
– Why is petrol refined locally still this expensive?
If Dangote was tagged a profit-driven businessman running a private enterprise, what do we now say about NNPCL, a government entity selling fuel at similarly high rates? For decades, it was common knowledge that government entities were expected to offer more affordable services than private organizations. When did this expectation change? Who altered the rules, and why?
If Dangote was accused of being a monopolist with profit as his sole motive, is NNPCL any different? Where is the fairness, and where is the accountability?
May God save Nigeria.
Adenike Mathew is a social crusader and an award winning writer based in Ilesha, Osun State
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