Photo caption: NNPC Ltd logo
Photo caption: Dangote Refinery
*Dangote denies selling fuel to NNPC at N898 per litre
By Emeka Ugwuanyi
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.
In a statement by the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, the national oil company also stated that it 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.
Photo caption: Dangote petrol pricing for September 2020 (Photo credit: NNPC Ltd)
Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations the country, based on September 2024 pricing.
Photo caption: Rebuttal statement by Dangote Refinery
Meanwhile, the Dangote Group has dismissed recent claims attributed to the Nigerian National Petroleum Company Limited spokesperson, Olufemi Soneye, that the company sold Premium Motor Spirit to the NNPC at N898 per litre.
In a press release issued on Sunday evening, the Group’s Chief Branding and Communications Officer, Anthony Chiejina, labelled the claim as “misleading and mischievous,” stating that it seeks to undermine the company’s recent milestones in addressing Nigeria’s long-standing energy crisis.
The clarification comes after widespread reports that NNPC had purchased fuel from Dangote at N898 per litre.
According to Chiejina, the statement is aimed at derailing the progress achieved towards alleviating energy insufficiency and insecurity, which have plagued the country for decades.
The statement read, “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 current stock of crude sold to NNPC was procured in dollars, with significant savings compared to existing import prices.
“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,” the statement concluded.
