President Bola Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, has attributed the recent reduction in petrol prices by the Dangote Refinery to the oil sector reforms introduced by the current administration.
Dare made the assertion while praising President Tinubu for implementing reforms he said are already yielding benefits for Nigerians.
Recall that Nigerian Newssphere reports on Friday that Dangote Refinery recently slashed its gantry price of petrol to N699 per litre from N828.
Reacting to the development on X, Dare noted that the refinery had also introduced a 10-day credit facility for customers, supported by bank guarantees, with a minimum purchase requirement of 500,000 litres.
He argued that the current situation in the petroleum sector is a direct outcome of the administration’s policy decisions.
“The dividends of the oil sector reforms of the Tinubu administration are becoming evident,” Dare wrote. “The removal of fuel subsidy unleashed market forces and encouraged competition. The government’s naira-for-crude policy provided Dangote Refinery with the lifeline it needed, boosting local production and challenging NNPCL.”
He added that increased competition in the market has driven prices downward, stressing that the progress recorded so far is the result of difficult but necessary reforms.
“We are where we are today because one man took the bold decision to end the subsidy trap and implement reforms,” Dare stated.
