NNPC released a statement saying Dangote Refinery sold petrol to them at ₦898.78 per liter.
However, Dangote group released a counter statement saying the information is false.
Nigerians have waited to heave a sigh of relief as regards the continuous increase in pump price of fuel in the past months.
Meanwhile, the construction of Dangote refinery was supposed to curb expensive importation of refined crude oil.
This will in turn reduce the cost of fuel and make it affordable for Nigerians.
However, that seems not to be the case as there happens to be a back and forth between NNPC and Dangote group concerning the price of fuel to the public.
Amidst all these, there are implications of the imminent hike in fuel price which may hit the populace once on October 1st.
1. Scarcity
If Dangote and NNPC don’t reach an agreement on the price to be sold to the public, there will be scarcity of the product which will shoot up the price.
2. Protest
An increase in the price of fuel will lead may fuel protest of angry Nigerians who are already gropling under harsh living conditions caused by constant fuel price increase.
3. Violence
The constant increase in fuel price may push angry Nigerians to protest and this will in turn give birth to violence, like vandalization of NNPC fuel stations.
An example of this is what happened during the MTN mass sim block which saw the destruction of some MTN offices across the country.
4. Loss of Jobs & Businesses
As a result of fuel price hike, many workers who commute over far distances will resign and resort to remote jobs.
Companies who cannot afford to increase staff salaries may lay off staff or urge them to work from home.
Also Read: Dangote Vs NNPCL: Dangote Says NNPCL Is Lying About New Petrol Price
Business owners who rely on fuel consumption like delivery companies, drivers, online business vendors and so on may have to fold up their businesses if the price of fuel continues to go up.
These and many more are the implications of fuel price hike that will hit Nigerians.
However, Nigerians await NNPC and Dangote to announce the fuel pump price on October 1, 2024.
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