News

‘Not Enough’: Netizens slam Dangote Refinery’s reduction of PMS price from N990 to N970/litre

Published

5 months ago

2024/11/25

Dangote Refinery, the largest refinery in Africa and the only functioning one in Nigeria, has been slammed by netizens following its announcement of reducing the price of Premium Motor Spirit (PMS), popularly known as petrol, from N990 to N970.

The company in a press statement said the price reduction was its “way of appreciating the good people of Nigeria for their unwavering support in making the Refinery a dream come true.”

It also assured the populace that despite the N20 price reduction, it “would not compromise on the quality of its petroleum products”.

The price reduction was however considered too low by many netizens who were hopeful the refinery’s operation would significantly reduce the cost of petrol which has repeatedly increased by about 488 per cent – from N175 in May 2023 to N1,030 in October 2024, following the inauguration of the Bola Ahmed Tinubu presidency.

Netizens’ reactions

Th?? Abu @TheoAbuAgada: “Not enough. Should be N550. You are being sold crude in Naira.”

Ajiji ? MIT @Chief_Ajiji: “Oil marketers import: N970/liter; Dangote Produces locally: N970/liter. Rubbish people!”

Safety Cabal @gabriel_bolatit: “N20 reduction you can do better I think the cabal should pressure the more.”

Omo Kogi (Yagba) @Oladapomikky1: “Sell it at N150 or wrap this sh!t up”

Ayomitunde @macabelee: “The game is the game. A lot of people don’t seem to understand what’s going on here…..if Tinubu & NNPC still choose to import, they’ll eventually incur serious debt and Dangote can still go on to reduce price”.

WEWE State @Wewe_Of_Lagos: “Should we praise you or swear for you??? What the difference between the old price and this one…”

Delani @daylearny: “O ya between you and I, is 970 not too high?”

Mr SUBSTANCE @Firsatina: “Dangote’s efforts are not yielding the desired results. It’s unacceptable that Nigeria, with its vast crude oil resources, is still grappling with high fuel prices. Implementing a price reduction to ?250 per liter would be a vital step towards Nigeria’s economic recovery…”

Fabian Obi @fabianobi: “If NNPC can import the same quality at a lower price. Then let’s have an open and competitive market”.

Captain Tango @Capolutiti: “Reading through some comments, we so very funny set of people. Why not tell Dangote to sell at N50 per liter ?”