The Dangote Refinery has refuted allegations from the Nigerian National Petroleum Company Limited (NNPCL) that it sold fuel at N898 per litre, insisting that it was actually sold to NNPCL in dollars, not in naira.
Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Refinery, in a statement on Sunday, criticised NNPCL Spokesperson Mr. Olufemi Soneye, calling his assertions on pricing of the product both misleading and intended to undermine recent achievements in addressing Nigeria’s energy shortages.
Chiejina clarified that the refinery’s attention had been drawn to Soneye’s claim that Dangote Refinery was selling Premium Motor Spirit (PMS) at N898 per litre.
According to Chiejina: “We urge Nigerians to disregard this malicious statement. The official pricing will be announced by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by President Bola Ahmed Tinubu, which will begin its work on October 1, 2024.”
Chiejina emphasised that the current stock of crude oil was procured in dollars, and the sales to NNPCL were conducted in the same currency.
He highlighted that this approach has resulted in significant savings compared to the cost of imports, ensuring that petrol will be available in every Local Government Area, including the most remote regions.
“The Dangote Refinery remains committed to providing high-quality petroleum products and ending the long-standing fuel scarcity in Nigeria,” Chiejina assured.
Meanwhile, the NNPCL Spokesperson has insisted that it paid N898 per litre for the purchase of petrol from the Dangote Refinery, saying on Sunday evening: “We successfully loaded PMS at the Dangote Refinery today. The claim that we purchased it at N760 per liter is incorrect. For this initial loading, the price from the refinery was N898 per liter.”
NNPCL admitted paying in dollars but emphasised that the naira sale of crude would commence on October 1, 2024.
The NNPCL also dismissed the claim of Dangote Refinery that the Sub-Technical Committee appointed by the president would announce PMS price at the refinery.
“The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.”
“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 Government, but negotiated directly between parties on an arms 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 October 1st, 2024.
“The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.”
The oil firm subsequently gave a breakdown of its acquisition of from the refinery, attaching the estimated pump prices of PMS across NNPC Retail Stations in the country, “based on September 2024 pricing”.
Below is the attachment:
With additional reports from Daily Trust