Olatunbosun Oyintiloye, a chieftain of the All Progressives Congress in Osun State, has called on President Bola Tinubu to intervene in the ongoing negotiation of diesel prices between the management of Dangote Refinery and marketers.
Expressing concern over the refinery’s diesel pump price of N1,225, Oyintiloye emphasized that the cost was high for a product originating from an indigenous company. He stressed the need for a significant price difference between imported diesel and that from a Nigerian-based refinery.
Speaking in Osogbo, the Osun State capital, the former lawmaker urged President Tinubu to ensure the protection of Nigerians’ interests in the negotiation process and advocated for a downward review of the current diesel pump price.
Echoing Oyintiloye’s sentiments, oil marketers have also called for a reduction in the pump price of diesel to between N700 and N850 per liter, prompting plans for a meeting between operators and refinery managers.
Highlighting the recent information from the Independent Petroleum Marketers Association of Nigeria regarding diesel importation costs, Oyintiloye emphasized the urgency of the President’s intervention in setting the price of products from Dangote Refinery.
While commending the commencement of Dangote Refinery’s operations and its positive impact on the economy, Oyintiloye stressed the necessity for fair pricing that reflects the reduced logistical expenses associated with indigenous production.
He advocated for a downward revision of diesel prices, anticipating that the operation of other indigenous refineries in the near future would further drive down petroleum product costs.