A significant controversy has arisen following the Nigerian National Petroleum Company Limited (NNPC)’s assertion that it purchased petrol from the Dangote Refinery at N898 per litre.
NNPC spokesperson Olufemi Soneye confirmed this price, stating that the refinery successfully loaded petrol on September 15, 2024.
However, Anthony Chiejina, the Group Chief Branding and Communication Officer for Dangote Refinery, refuted these claims, labeling them “misleading and mischievous.”
He clarified that the transactions were conducted in dollars, without disclosing the actual costs, and urged the public to await an official pricing announcement from the Technical Sub-Committee on Naira-based crude sales to local refineries.
“Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.
ALSO READ: Obasanjo joins Abdulsalami, Gusau for strategic meeting at IBB’s residence in Minna
“This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.
“We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.
“It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing.
“With this action, there will be petrol in every local government area of the country regardless of their remote nature.
We assure Nigerians of availability of quality petroleum product and putting an end to the endemic fuel scarcity in the country.”
Chiejina emphasised that the pricing structure aims to address Nigeria’s energy needs and ensure the availability of petrol nationwide.
He noted that the refinery’s operations are designed to provide quality petroleum products and mitigate fuel scarcity.
This dispute has raised questions about the dynamics of Nigeria’s deregulated fuel market, with independent marketers expressing concerns over NNPC’s exclusive off-take arrangement.
The situation underscores the complexities surrounding fuel pricing and distribution, as both parties navigate the implications of currency fluctuations and market conditions.
