The Independent Monitors Group on Economic Reform (IMGER) has praised Dangote Petroleum Refinery and MRS Oil for slashing the price of Premium Motor Spirit (PMS) during the yuletide season. In a statement signed by Dr. Wasiu Akande, IMGER commended the two companies for demonstrating their commitment to the welfare and well-being of the Nigerian people.
According to IMGER, the decision by Dangote Petroleum Refinery and MRS Oil to reduce fuel prices is a welcome relief for Nigerians grappling with economic hardship. The group noted that Dangote Refinery’s price reduction to N899.50 per litre and MRS Oil’s subsequent reduction to N935 per litre will have a positive impact on the Nigerian economy.
IMGER believes that the reduction in fuel prices will reduce the cost of transportation, food, and other essential commodities, thereby putting more money in the pockets of Nigerians. This, in turn, will boost economic activity, stimulate growth, and improve the overall standard of living in the country.
The group also praised Dangote Refinery’s innovative special purchase offer, which allows consumers to buy an extra litre of fuel on credit, secured by a bank guarantee. This initiative provides added financial flexibility for consumers during the high-spending holiday period.
IMGER called for sustained partnership between the private sector and the Federal Government (FG) to drive economic growth and development that benefits Nigerian citizens. The group emphasized that this collaborative approach is essential for promoting economic policies that positively impact the lives of Nigerians.
By working together, the FG and private sector companies like Dangote and MRS Oil can deliver initiatives that address pressing challenges, such as affordable fuel prices, digital skills development, and climate-smart agriculture research.
A sustained partnership will also facilitate the sharing of knowledge, expertise, and resources, ultimately leading to more effective and sustainable solutions that advance the interests of Nigerian citizens.
IMGER’s commendation of Dangote Refinery and MRS Oil is a testament to the positive impact that private sector companies can have on the Nigerian economy. The group’s call for sustained partnership between the private sector and the FG is a step in the right direction towards driving economic growth and development in Nigeria.
As the Nigerian economy continues to evolve, it is essential for private sector companies and the FG to work together to address pressing challenges and promote economic growth and development.
In conclusion, IMGER’s commendation of Dangote Refinery and MRS Oil is a welcome development, and the group’s call for sustained partnership between the private sector and the FG is a step in the right direction towards promoting economic growth and development in Nigeria ¹.
