Victor EzejaDangote Refinery has said it sold Premium Motor Spirit (PMS) also known as petrol to the Nigeria National Petroleum Company Limited (NNPCL) at a cheaper rate.
In a statement by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company debunked a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that it is selling PMS at N898 per litre to the national oil company.
Join our WhatsApp ChannelPrime Business Africa reports that the NNPCL spokesperson was quoted as saying that the first batch of petrol lifted from the Dangote Refinery on Sunday by the NNPCL was sold to the national oil company at N898 per litre.
However, Chiejina described the statement as both “misleading and mischievous,” adding that it is deliberately aimed at undermining the milestone achievement recorded on Sunday with the successful commencement of refining and supply of petrol by the Dangote Refinery to the Nigerian market through NNPCL which is a significant step towards achieving energy self-sufficiency and security that has been stalled for the past 50 years in the country.
The company urged Nigerians to disregard this “malicious” statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries.
Part of the statement reads: “Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.
“This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedevilled the economy in the past 50 years.
“We urge Nigerians to disregard this 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 His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.”
Chiejina further clarified that the Dangote Refinery sold the PMS to NNPCL in dollars at a rate below what the national oil company is currently importing the product, thereby making them have a lot of savings.
He assured that the company is poised to make petrol available in all parts of the country to end the era of scarcity.
READ ALSO: Dangote Refinery: Local Production Marks Important Step Towards Nigeria’s Energy Security – Edun
“It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature.
“We assure Nigerians of availability of quality petroleum products and putting an end to the endemic fuel scarcity in the country,” Chiejina further stated.
NNPCL lifted the first batch of refined petrol from Dangote Refinery on Sunday.
As announced on Friday, 13 September by the Finance Minister at the end of the Technical Sub-Committee meeting on the sale of crude, diesel from the Dangote Refinery would be sold in Naira to any interested off-taker, while PMS would only be sold to NNPCL, which will then sell to various marketers.
NNPCL Scheming To Sell Petrol at Higher price – Nigerians
Reacting to Dangote Refinery’s statement, Nigerians on social media accused NNPCL of scheming to sell petrol to the people at a higher price.
“It is so obvious that it is NNPC that is trying to make sure the PMS is sold to Nigerians at a higher price. How can the government that is supposed to favour and be on the side of the people be the one undermining them.
“This hatred against the people is too much,” an X user with the name Kalu Oke Kalu @Sirkay3024 stated.
“Someone is padding the Dangote fuel price to keep up with his/her normal Malta profit,” @novieverest wrote.
“Dangote refinery is a private company but Tinubu is the one to set the price.
“When will the oil and gas sector in Nigeria ever be transparent?” he queried.
Some netizens charged Dangote Refinery to tell Nigerians the true price of the company’s refined petrol.
The N898 per litre price attributed to the NNPCL spokesperson is already above the current pump price of between N855 and N897 Naira at NNPCL retail outlets (depending on the location).
This means that by the time the national oil company adds its margin, the price could go higher than N1,000 per litre, said an economic expert who didn’t want to be named.
“They (NNPCL) don’t want Nigerians to see how cheap it could be so that importation will be justified,” an X user @SeunLeo, stated.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
