The Coalition of United Political Parties (CUPP) has expressed concern over the recent disclosure by the Nigerian National Petroleum Company Limited (NNPCL) that it purchased fuel at N898 per litre from the Dangote Refinery. This revelation has sparked widespread controversy and dashed hopes of a reduction in fuel prices among Nigerians.

CUPP raised critical questions about the cost of production, transparency, and the alleged ongoing exploitation of Nigerian citizens. Chief Peter Ameh, CUPP’s National Secretary, described the high cost of fuel from the Dangote Refinery as “unjustifiable,” particularly in the absence of tariffs, landing costs, and port charges.

“With crude oil supplied in local currency, the refinery’s production costs should be significantly lower. It is imperative that Dangote Refinery provides a detailed breakdown of its cost of production to justify the exorbitant price of N898 per litre,” the statement read. CUPP criticized the lack of transparency and accountability in the pricing mechanism, suggesting a possible conspiracy to maintain an exploitative pricing regime.

The coalition emphasized that this situation undermines the potential benefits of domestic refining and raises doubts about the true advantages of local fuel production. It noted that the high cost of fuel remains out of reach for the average Nigerian, defeating the purpose of establishing a local refinery in the country.

CUPP called on the NNPCL to negotiate competitive prices and urged the Dangote Refinery to provide a detailed breakdown of its production costs. They also called on the National Assembly to enforce regulatory oversight in the energy sector.

“The government must allow an independent regulatory body to monitor pricing mechanisms and protect consumers from exploitation,” the statement added. CUPP believes that only through transparency and proper regulation can Nigeria harness the benefits of domestic refining and provide affordable energy for its citizens.