On Saturday, the Nigerian National Petroleum Company Ltd (NNPCL) announced that there is no assurance of a price reduction as it prepares to start lifting petrol from the Dangote refinery.
The company is set to begin this process on September 15.
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In a statement, NNPCL spokesperson Olufemi Soneye explained that the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd, is influenced by global market forces.
Soneye, NNPCL’s Chief Corporate Communications Officer, emphasized that domestic refining of the products does not guarantee lower prices.
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“The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces,” he said.
Soneye’s statement follows speculation that the company is trying to monopolize the purchase 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.
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