Like Cement backward integration, Dangote Refinery won’t reduce fuel price—Onyekpere
For Nigerians thinking that the commissioning of Dangote Refinery would reduce the price of petroleum products especially petrol, they should better prepare their minds to pay more instead.
Explaining why this will be so, the Director, Centre for Social Justice, Barr. Eze Onyekpere in an interview took back the minds of Nigerians to the whole noise made before and during the campaign for backward integration in cement production in Nigeria.
According to him, the federal Government and private sector investors in the cement supply chain told Nigerians that as soon as the country reaches 23mmt, the price of cement will not only fall, but there would be excess for export.
“Today, Nigeria’s total cement output is over 30mmt and we are exporting, but cement price is still on top of the roof and both the government and private sector investors are silent. So shall it be in petrol very soon, Onyekpere said.
By the details coming out from Dangote Refinery, full scale production would satisfy the nation’s need which will ordinarily mean drop in prices, but it may not drop due to the Nigerian factor.
