The Nigerian National Petroleum Company Limited (NNPC Ltd) has insisted that it bought petrol from Dangote refinery at N898 per litre, contrary to the denial by the Dangote company, challenging that if the price wasn’t at N898 per litre, the management should come out to tell the world how much it was sold.
Penpushing reports that, the Chief Corporate Communications Officer of the company, Olufemi Soneye emphasized that the claim of Dangote Refinery was not correct, explaining that it was the responsibility of Nigerian National Petroleum Company Limited (NNPC Ltd) to clarify the facts.
“If the price isn’t N898, then what is it? We would be happy to receive a discount. Throughout the day, various figures have been circulating—some claiming N1,300, Punch reported around N767, and another outlet mentioned N500. It’s our responsibility to clarify the facts. The truth is, the government is not setting fuel prices, nor is NNPC Ltd. It’s a deregulated market where prices are determined by market forces. Let them tell you, their price. I stand by my earlier comment. Will you allow customers to carry your product without price agreement?” Mr Soneye said
Penpushing further reports that Soneye, in reaction on Sunday night, by Dangote Refinery describing the claim of Nigerian National Petroleum Company Limited (NNPC Ltd) as misleading and mischievous aimed at undermining the refinery’s achievement in addressing Nigeria’s energy insufficiency, stated that market forces now determine domestic pump prices.
The company in a separate statement announcing the estimated price of petrol obtained from the Dangote Refinery, the company said it is paying the refinery in United States dollars for September 2024 petrol offtake, as Naira transactions will only commence on 1 October.
“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by the government, but negotiated directly between parties on an arm’s length. The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on 1st October 2024’, Soneye stated.
Penpushing also reports that the Nigerian National Petroleum Company Limited (NNPC Ltd) assured that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public.
“Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing,” the statement emphasised.
Penpushing reports that it is recalled Group Chief Branding and Communications Officer of Dangote Refinery, Anthony Chiejina, urged Nigerians to disregard what he called malicious statement and await a formal announcement on the pricing by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by President Bola Ahmed Tinubu, which will commence on 1 October.
The statement pointed out that its current stock of crude was procured in dollars and sold to Nigerian National Petroleum Company Limited (NNPC Ltd) in dollars, resulting in significant savings compared to current imports, but he, however, failed to tell Nigerians the price at which the refinery sold its petrol to Nigerian National Petroleum Company Limited (NNPC Ltd).
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