The House of Representatives Minority Caucus has argued that the baseline of N980 per litre fixed by the Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC) is outrageous and exploitative for Nigerians.
It, therefore, called on the Federal government to urgently review the pricing framework for a product that refined locally.
Chairman of the caucus, Kingsley Chinda (PDP, Obio/Akpor Federal Constituency of Rivers State), expressed disappointment with the pump price, staggered from N950 to above N1,000 per litre.
On behalf of the Caucus, he said: “We find this pricing regime to be not only burdensome but utterly unacceptable, particularly in light of the fact that this fuel is refined locally.”
The lawmaker emphasised that locally refined fuel should be priced significantly lower than imported fuel, as it avoids costs such as landing charges and import duties, insisting that the pricing model was wrong for all intents and purposes.
“It appears Nigerians are unfairly exploited, especially at a time when many are facing severe economic challenges,” he said, urging NNPCL and Dangote Refinery to reconsider their stand in the interest of the poor masses,” they added..
The lawmakers warned that allowing the current pricing arrangement to continue would only deepen the economic hardships of millions and erode trust in local refineries’ ability to deliver affordable fuel.