The Unending Petrol Price Conundrum: A Conspiracy of Price Gouging?

I had vowed not to write about Nigeria’s skyrocketing petrol prices, but the recent developments have compelled me to visit this issue. Despite hopes that the Dangote Refinery would bring down prices, Nigerians are still paying extortionate rates. The blame games and accusations between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) suggest a well-choreographed conspiracy to exploit Nigerians

This phenomenon is reminiscent of price gouging, a term used in the United States to describe businesses artificially inflating prices during crises or emergencies. In the fuel context, price gouging occurs when companies sharply increase prices in response to supply shortages

The Dangote Refinery’s inability to meet daily consumption demands, coupled with NNPCL’s monopolistic control over fuel distribution, has created a disconnect between expectations and reality. This is not free-market capitalism but state capitalism, masquerading as deregulation

The reality is stark: Nigerians are being taken advantage of, and it’s time to hold these entities accountable.

Let’s continue the conversation. What are your thoughts on this issue?”