No Promise of Decreased Prices at Dangote Refinery—NNPCL

Nigeria National Petroleum Company Ltd. (NNPCL) said on Saturday that there is no assurance of a reduced price as it gets ready to begin transferring petrol from the Dangote plant.

On September 15, NNPCL is reportedly going to start removing petrol from the plant.

Company spokesperson Olufemi Soneye said that all refineries, including Dangote Refinery Ltd., are subject to the pricing dictated by global market forces when it comes to petroleum products.

The Chief Corporate Communications Officer of NNPCL, Soneye, stated that domestic refining of products in the country does not necessarily imply reduced prices.

Price points for refined petroleum products are set by global markets, he added, and that includes Dangote Refinery Ltd. (DRL).

Rumours have been circulating that Soneye is trying to corner the market on Dangote Refinery Ltd. products, prompting the business to respond.

One press release that the Nigerian National Petroleum Company Limited (NNPC Ltd) is allegedly sabotaging the Dangote Refinery Limited (DRL) was brought to the notice of the NNPC Ltd by the Muslim Rights Concern, MURIC.

“Specifically, MURIC claims 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,” said the official.