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Petrol Prices Are Manipulative, NNPCL A Monopoly – Lukman

Published

2 months ago

Sep 18, 2024.

Salihu Lukman, former National Vice Chairman (North-West) of the All Progressives Congress (APC), has accused the Nigeria National Petroleum Company Limited (NNPCL) of manipulating petroleum prices since the Dangote Refinery began operations.

EKO HOT BLOG reports that in a statement titled “Nigerian Democracy in ICU,” Lukman argued that the pricing system is designed to maintain a parasitic monopoly and force citizens to endure higher costs, which stifles local production.

He criticized the current administration, claiming that the NNPCL’s control over petroleum pricing reflects deeper economic manipulation that negatively impacts Nigerians.

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“The econometrics of petroleum pricing since the commencement of production of Dangote Refinery is more about manipulative control and imposition of a parasitic monopoly which the NNPC represents.

Petrol Prices NNPCL Lukman

“Unfortunately, for whatever reasons, that appears to be the preference of the government. As it is, the welfare of citizens is not President Asiwaju Tinubu’s priority.

“It is almost as if President Tinubu doesn’t give a damn about whether Nigerians are dying on account of the government’s heartless and mindless policies.

“Rather than push public policy in a direction that relieved the economic burden of harsh living conditions, the federal government is more bent on imposing more stringent measures that drain and devalue the resources of citizens,” Lukman noted.