Dangote urged to cut diesel prices

President of Dangote Group, Alhaji Aliko Dangote, has been commended for his intervention in Nigeria’s petroleum sector, which has led to a reduction in the pump price of petrol and improved availability of the product across the country. However, he has also been urged to urgently consider a significant reduction in the price of diesel […]

President of Dangote Group, Alhaji Aliko Dangote, has been commended for his intervention in Nigeria’s petroleum sector, which has led to a reduction in the pump price of petrol and improved availability of the product across the country.

However, he has also been urged to urgently consider a significant reduction in the price of diesel to ease the mounting cost pressures facing manufacturers and other business operators.

The commendation and appeal were made by an Ibadan-based industrialist and First Deputy President of the Ibadan Chamber of Commerce, Industry, Mines and Agriculture (IBCCIMA), Chief Emmanuel Folorunso Ogunnaike, while addressing journalists in Ibadan.

Ogunnaike, who is also the Chairman of Folhope Nigeria Limited, described Dangote’s role in stabilising petrol supply and prices as a major relief to Nigerians, but stressed that the high cost of diesel remains a serious challenge to the productive sector.

“I am using this opportunity to appeal to Alhaji Aliko Dangote to apply the same template he used to bring about the reduction in the pump price of petrol to ensure a drastic reduction in the price of diesel as well,” Ogunnaike said.

According to him, manufacturers, poultry farmers and small-scale business operators are spending enormous amounts on diesel daily due to inadequate electricity supply from the national grid.

“If you ask an average manufacturer or poultry products merchant, he or she will tell you how much is being spent on diesel every day. The expenses on diesel are really overwhelming and are significantly driving up the cost of production,” he said.

Ogunnaike noted that in the absence of reliable grid power, most businesses rely heavily on generators, a situation he said has become unsustainable due to rising diesel prices.

He added that a reduction in the price of Automotive Gas Oil (AGO) would go a long way in relieving Nigerian industrialists of the burden of high energy costs and help revive struggling businesses.

“Many industries are shutting down, while others are cutting back on production because of the high cost of energy,” he said.

The IBCCIMA deputy president also called on the government to provide more support for manufacturers and business owners, noting that they play a critical role as employers of labour and drivers of economic growth.

He stressed that lowering energy costs, particularly diesel prices, would help sustain existing industries, encourage new investments and protect jobs across the country.