ABUJA - A coalition of civil society organizations (CSOs), weekend commended the Dangote Refinery and Petrochemicals Company for its contribution to reducing petroleum product prices and supporting foreign-exchange stability in Nigeria.
At a press conference in Abuja, the coalition -- led by Comrade Danesi Momoh Prince of the Employment for Unemployed Youth Initiative (EUYI) and Comrade Igwe Ude-umanta of the Guardians of Democracy and Development Initiative (GoDDI) -- described the $20 billion single-train facility as a world-class investment that has significantly impacted the downstream sector.
The groups said the refinery has helped reduce reliance on imported refined products, created jobs, improved the nation's trade balance and contributed to lower domestic fuel prices. They pointed to price movements since the removal of the fuel subsidy in May 2023, noting that Automotive Gas Oil (diesel) which at one point sold for about ₦1,700 per litre has fallen to an estimated ₦1,030, while Premium Motor Spirit (petrol) moved from around ₦1,020 to about ₦855 -- figures the coalition attributed to increased local refining capacity and market activity.
The CSOs called on industry stakeholders, regulators and government to support responsible private investment in the sector and to engage constructively to sustain gains that benefit consumers. They urged all parties to pursue lawful and collaborative approaches to address supply-chain challenges and protect critical infrastructure.
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"The refinery's operations are delivering tangible benefits for ordinary Nigerians," the coalition said, adding that continued cooperation between public and private actors is essential to consolidate those gains.
The groups also encouraged competitors and marketers to explore investment and partnership options, including refining and local sourcing, as means of strengthening the sector and expanding supply options for Nigerian consumers.
