NNPC yet to source petrol from us – Dangote refinery
Dangote Group has refuted claims that the Nigerian National Petroleum Company Limited (NNPCL) is currently sourcing petrol from its refinery at a rate of N897 per litre.
In a statement issued on Thursday, Anthony Chiejina, the Group’s Chief Branding and Communications Officer, clarified that Dangote cannot set the price of petrol as their arrangements with NNPCL are still pending finalization.
Chiejina addressed a recent headline, “NNPC lifts Dangote Petrol, sells at N897 per litre,” which appeared in a national newspaper. He emphasized, “We want to clarify that NNPC has not yet begun lifting refined Premium Motor Spirit (PMS), commonly known as petrol, from our Dangote Petroleum Refinery. Consequently, we are not in a position to set or influence the price of petrol from our refinery, as our contract with NNPC has not yet been concluded.”
The statement continued, “The PMS market is regulated, and all oil marketers and stakeholders are aware that pricing falls under the jurisdiction of relevant government authorities. Therefore, we cannot determine or influence the price of the product.”
Dangote Group reassured the public of its commitment to transparency and fairness, urging them to disregard the incorrect headline.
Aliko Dangote, the Group’s Chief Executive Officer, had previously mentioned that the Federal Executive Council is working on a new pricing structure for petrol from the Dangote Refinery. The facility, which has a capacity of 650,000 barrels per day, officially launched its refined petrol on Tuesday. Dangote indicated that the product could be available at filling stations within the next 48 hours, depending on national logistics.
He noted, “This pricing arrangement is being designed and approved by the Federal Executive Council under President Bola Ahmed Tinubu’s leadership. Once finalized, and as soon as we complete discussions with NNPC—potentially today or tomorrow—we will be prepared to enter the market.”
Shortly after Dangote’s statement, NNPCL reportedly instructed its retail outlets to increase the petrol pump price to N855 per litre. This adjustment came just days after NNPCL acknowledged difficulties in fuel imports due to an $8 billion debt.
