How Nigeria Could Lower PMS Prices Toward ₦500 per Litre

I believe petrol pricing should be assessed against the relative cost of everyday goods in Nigeria and the United States, including soft drinks, beer and restaurant meals. Using those comparisons, PMS could be far cheaper in Nigeria under normal market conditions. My proposal is for the government to acquire Dangote Refinery’s controlling shares, compensate its owner fairly and install a management structure that is less dependent on debt. I believe this could allow the refinery to make pricing and investment decisions without the pressure of heavy borrowing. I also believe an initial public offering should not focus mainly on expansion while more refineries are expected to enter the market. Fuel discounts for transporters may offer limited relief, especially as CNG and electric vehicles are already cheaper alternatives for many operators.

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