Dangote Petroleum Refinery has debunked recent media reports suggesting that the Nigerian National Petroleum Corporation (NNPC) has begun lifting petrol from its facility for ₦897 per litre.
Dangote Petroleum Refinery has debunked recent media reports suggesting that the Nigerian National Petroleum Corporation (NNPC) has begun lifting petrol from its facility for ₦897 per litre.
In a statement issued on 4 September 2024, Dangote Group clarified that no such transaction has taken place and labelled the reports as “misleading.”
The statement reads:
“We would like to state that NNPC has not commenced lifting of refined Premium Motor Spirit (PMS), commonly known as petrol, from our Dangote Petroleum Refinery,” stated Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote.
The refinery emphasised that the price of petrol has not been determined, as contracts with NNPC are still being negotiated.
“The issue of fixing the price of petrol lifted from our refinery does not arise, as we are yet to finalise our contract with NNPC,” Chiejina explained.
Govt regulate fuel price, not us – Dangote Refinery
“We urge the public to disregard the headline as it is misleading and does not represent the true position in this matter,” Chiejina stated.
Bloomberg reported that Nigeria is exploring the possibility of allowing billionaire Aliko Dangote’s refinery to set the price of the gasoline it sells, according to sources.
“Dangote Refinery will certainly not sell their products below market value as a business that was set up to make profit,” said government spokesman Temitope Ajayi. “I don’t see how NNPC or the federal government will control price for a private business,” he said.
The role of the petroleum industry regulator “will be to ensure products quality and fair pricing so that the business doesn’t take undue advantage of the citizens or rip them off,” Ajayi said.
