On Saturday, the Nigeria National Petroleum Company Ltd (NNPCL) announced that there is no assurance of reduced petrol prices as it prepares to start lifting fuel from the Dangote refinery.
NNPCL is set to begin this process on September 15.
According to Olufemi Soneye, NNPCL’s Chief Corporate Communications Officer, the cost of petroleum products from any refinery, including the Dangote Refinery Ltd, is influenced by global market conditions.
Soneye emphasized that domestic refining of these products does not guarantee lower prices.
“The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces,” he said.
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.
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