Dangote Refinery IPO: Why Affordable Energy Matters More to Nigerians
I welcome the plan to take Dangote Refinery to the Nigerian capital market. It could allow more Nigerians to own part of a major industrial asset. However, I cannot celebrate fully while workers face high fuel costs and weak purchasing power. Nigeria’s ₦70,000 minimum wage buys only a small quantity of petrol at current pump prices. Petrol, diesel, kerosene and cooking gas costs also raise transport, food and production expenses. The comparison with other oil-producing countries may not be perfect, but it should push Nigeria to study policies that improve energy affordability and wages. My argument is not against Dangote Refinery or economic reforms. It is a call for government, NNPC, marketers and the refinery to explore transparent solutions that can lower energy costs without harming public finances. Nigerians need both higher incomes and cheaper energy to live with greater dignity.
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