Adeyanju Frowns At Fuel Price Hike By Dangote Refinery,

Human rights activist and lawyer Deji Adeyanju has criticized billionaire industrialist Aliko Dangote over the recent hike in petrol pump prices, describing it as “Unreasonable” hence accusing the Dangote Refinery of exploiting its dominant market position.

This contained in a statement issued to newsmen in Abuja,
titled “Sudden Fuel Price Increment: Dangote Terrible Monopoly Destroying Nigeria,”

According to the statement, Adeyanju questioned the justification for the reported increase of over 100% in the pump price of fuel, which has been linked to rising global oil prices amid tensions in Iran and the wider Gulf region.

“Aliko Dangote has hiked the pump price of fuel by over 100% due to the war in Iran, and yet the Dangote Refinery purchases crude oil domestically from Nigeria, and the President even approved that the Nigerian National Petroleum Company sell crude oil to the Dangote Refinery in naira.”

The statement stressed that the refinery’s access to domestically sourced crude, combined with the naira-based supply arrangement, should shield Nigerians from sharp price fluctuations tied to international geopolitical developments.

“What I find even more troubling is the fact that the products currently being supplied were refined long before the recent escalation of hostilities in the Gulf region,” Adeyanju added.

PR/Garry Ochigbo