NNPCL Gives No Guaranty Of Price Reduction After Agreeing To Lift Fuel From Dangote Refinery

The Nigeria National Petroleum Company Ltd. (NNPCL), which is about to start removing gasoline from the Dangote refinery, stated on Saturday that there is no assurance of a cheaper price.

According to reports, NNPCL will start removing gasoline from the refinery on September 15.

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The business noted that the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd., is set by forces in the worldwide market in a statement released by its spokesperson, Olufemi Soneye.

The Chief Corporate Communications Officer of NNPCL, Soneye, stated that there is no assurance that local product refining will result in cheaper pricing.

“The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces,” he said.

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Soneye’s response comes amid rumours that the company is attempting to monopolise the offtake of all products from the Dangote Refinery Ltd.

“The attention of the NNPC Ltd has been drawn to a press release by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the Nigerian National Petroleum Company Limited (NNPC Ltd).

“Specifically, MURIC asserts that recent changes to the pump price of Premium Motor Spirit (PMS) will prevent the Dangote Refinery from offering lower prices and that NNPC Ltd. has become the sole offtaker of all products from the refinery,” he stated.