Centre Hails Dangote Refinery for Revolutionising Fuel Subsidy Narrative

The African Centre for Credible Leadership (ACCL) has commended the Dangote Refinery for its groundbreaking impact on Nigeria’s fuel subsidy regime and its recent reduction in fuel prices.

In a statement signed by its President, Dr. Ifure A. Ifure, the Centre said the refinery’s operationalisation has significantly altered the narrative on fuel subsidy, paving the way for a more sustainable and self-sufficient energy ecosystem.

According to Ifure, the Dangote Refinery’s contribution to Nigeria’s energy landscape attests to the power of private sector-driven initiatives in transforming the continent’s economic fortunes.

He noted that the recent reduction in fuel prices, which saw the ex-depot price of petrol slashed from N970 to N899 per litre, is expected to bring relief to Nigerians across the country.

Furthermore, the ACCL praised Dangote’s partnership with MRS Oil Nigeria Plc to offer petrol at N935 per litre across all MRS filling stations nationwide, describing it as a bold step towards addressing the long-standing issue of price disparities across states.

Ifure said the reduction in fuel prices is expected to have a positive impact on the economy, boosting productivity, reducing business costs, and helping to revive the economy.

The ACCL noted that transporters, farmers, and small businesses will all benefit from the reduction, which could lead to lower overhead costs and increased economic activity.

“The African Centre for Credible Leadership (ACCL) wishes to commend the Dangote Refinery for its groundbreaking impact on Nigeria’s fuel subsidy regime and its recent reduction in fuel prices,” the statement said.

“The refinery’s operationalization has significantly altered the narrative on fuel subsidy, paving the way for a more sustainable and self-sufficient energy ecosystem.

“We acknowledge the visionary leadership of Aliko Dangote, whose commitment to investing in Africa’s growth has yielded a game-changing project. The Dangote Refinery’s contribution to Nigeria’s energy landscape attests to the power of private sector-driven initiatives in transforming the continent’s economic fortunes.

“The recent reduction in fuel prices is a welcome development that will bring relief to Nigerians across the country. By slashing the ex-depot price of petrol from N970 to N899 per litre, Dangote Petroleum Refinery has demonstrated its commitment to supporting the Nigerian government’s efforts to stabilize the economy.

“Furthermore, Dangote’s partnership with MRS Oil Nigeria Plc to offer petrol at N935 per litre across all MRS filling stations nationwide is a bold step towards addressing the long-standing issue of price disparities across states. This move will ensure that every Nigerian has access to affordable fuel, regardless of their geographical location.

“The reduction in fuel prices is not just about saving money at the pump; it is about boosting productivity, reducing business costs, and helping to revive the economy.

“When fuel costs go down, it impacts everything from the delivery of goods to the pricing of services. Transporters, farmers, and small businesses all stand to benefit from this reduction, which could lead to lower overhead costs and increased economic activity.”

The ACCL also commended Dangote’s commitment to corporate social responsibility and his support for the Nigerian government’s economic revival efforts.

The Centre urged other African business leaders and governments to draw inspiration from the Dangote Refinery’s success story and replicate similar initiatives that can drive economic growth, reduce dependence on foreign aid, and improve the lives of African citizens.