The Nigerian National Petroleum Company Limited, NNPCL, has debunked claims that it is the sole seller of the Dangote petrol in the country.
In a posted on NNPC X’s handle on Saturday, September 7, 2024, NNPCL declared that Dangote and other refineries are free to sell directly to marketers.
This is coming on the heels of the recent claims by the Muslim Rights Concern (MURIC). The Muslim body had alleged that NNPC Ltd is undermining the Dangote Refinery Limited (DRL).
The MURIC had in its press release alleged that recent changes in the pump price of Premium Motor Spirit (PMS) will hinder the refinery’s ability to offer competitive prices. And that NNPC Ltd has become the sole buyer of all products from DRL.
Responding, NNPC Ltd clarified that the pricing of petroleum products, including those from Dangote Refinery, is influenced by global market forces.
“Changes in PMS prices do not affect the refinery’s access to the Nigerian market. On the contrary, high market prices could provide the refinery with an opportunity to offer lower prices locally,” NNPCL said.
The company also emphasized that domestic refining does not guarantee lower prices compared to global parity pricing, a point confirmed by DRL.
NNPCL stated that it would only fully purchase PMS from DRL if market prices exceed local pump prices. “DRL and other refineries are free to sell directly to marketers under a willing buyer, willing seller basis,” it said.
“NNPC Ltd has no intention of becoming a distributor in a deregulated market. Making the idea of it being the sole off-taker unfounded.
The company went on to highlight its substantial investment in Dangote Refinery. NNPCL noted that it has no interest in undermining a business in which it holds a significant stake.
The company also called on MURIC to verify facts before issuing statements that could mislead the public and potentially incite negative sentiments against the company, it warned.
source: Nigerian Tribune
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