Sell Crude to Dangote in Naira to Cut Fuel Prices, Lagos NLC Urges FG

The Lagos State chapter of the Nigeria Labour Congress (NLC) has called on the Federal Government to sell crude oil to the Dangote Refinery in Naira, rather than foreign currency. The appeal was made by the NLC’s Lagos Chairperson, Funmi Sesi, during a facility tour of Dangote Petroleum Refinery and Fertiliser Ltd., alongside members of the Labour Writers Association of Nigeria (LAWAN). Sesi questioned why Dangote is forced to import or buy locally sourced crude in dollars despite Nigeria’s abundant oil reserves.

According to Sesi, requiring payments in hard currency contradicts the government’s goal of reducing fuel prices and promoting local refining. She stated that selling crude in Naira would cut operating costs and make fuel prices more affordable for Nigerians. Commending the Dangote Group for its transformative impact, she said the refinery, fertiliser plant, and other massive investments were helping bridge Nigeria’s fuel supply gap, create jobs, and drive industrialisation.

Sesi noted that following the removal of fuel subsidies, the Dangote Refinery played a key role in stabilising prices of Premium Motor Spirit (PMS) and other refined products. With a daily capacity of 650,000 barrels, the refinery has the potential to serve not only Nigeria but the West African region. She also praised its production of Euro-5-compliant fuel, highlighting its alignment with global environmental standards and potential to boost Nigeria’s international standing.

Speaking during the visit, Dangote Industries Vice President for Oil and Gas, Devakumar Edwin, said the refinery was actively reducing Nigeria’s reliance on imported refined products and strengthening the foundation for a competitive local refining industry. He announced plans to deploy 4,000 Compressed Natural Gas (CNG)-powered trucks to distribute products across the country, a move expected to cut logistics costs and bring down pump prices for consumers. Edwin emphasized that the trucks are not intended to replace existing distributors but to improve delivery efficiency and affordability.