Dangote Refinery Denies Selling Petrol to NNPC at N898/Litre

The Dangote Refinery has refuted claims that it sold petrol to the Nigeria National Petroleum Company (NNPC) Limited at a rate of N898 per litre.

Anthony Chiejina, Group Chief Branding and Communications Officer for Dangote Refinery, made this clarification on 15 September 2024.

The NNPC commenced the loading of Premium Motor Spirit (PMS) from the Dangote Refinery on Sunday, 15 September 2024, following delays caused by pricing negotiations and other commercial details with the NNPC, as well as the finalisation of work at the refinery.

Olufemi Soneye, Corporate Communications Manager of the company, stated that claims of buying PMS at N1,300 or N760 from Dangote were incorrect and that N898 was the current loading price.

He said: “We successfully loaded PMS at the Dangote Refinery today. The claim that we purchased it at N1,300 per litre or N760 is incorrect. For this initial loading, the price from the refinery was N898 per litre. The price is determined by market forces. It’s a deregulated market. I can also confirm, in response to inquiries, that we will receive 16.8 million litres.”

Before operations began, Femi Soneye, Chief Corporate Communications Officer (CCCO) of NNPC, announced on Saturday that by the end of the day, at least 300 trucks would be positioned at the refinery’s loading gantry, ready for the scheduled petrol loading on Sunday, September 15.

In response, Chiejina stated that the claim attributed to “NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to NNPCL” was both misleading and allegedly mischievous.

He argued that it was deliberately aimed at undermining the milestone achievement recorded on September 15, 2024, in addressing energy insufficiency and insecurity, which has plagued the economy for the past 50 years.

He said that the refinery sold the products to NNPC in dollars, resulting in significant savings compared to what they are currently importing.

“With this action, there will be petrol available in every local government area of the country, regardless of their remote nature. We assure Nigerians of the availability of quality petroleum products and an end to the endemic fuel scarcity in the country.”

“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,” he stated.