The Dangote Refinery in Lagos has refuted claims that it sells petrol to the Nigerian National Petroleum Company Limited (NNPCL) at ₦898 per litre.
In a statement released on Sunday, the refinery’s spokesperson, Anthony Chiejina, described the allegation made by NNPCL representative Olufemi Soneye as “misleading and mischievous.”
“Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, claiming we sell our PMS at ₦898 per litre to the NNPCL. This claim is both misleading and malicious, aimed at discrediting the significant progress achieved today, September 15, 2024, in addressing the longstanding issues of energy insufficiency and insecurity that have plagued the economy for over five decades,” Chiejina said.
He urged Nigerians to disregard the statement and wait for an official announcement on pricing from the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by President Bola Ahmed Tinubu. This announcement is expected on October 1, 2024, with consideration given to the fact that the refinery’s current crude stock was purchased in dollars.
Chiejina also clarified that Dangote Refinery sells products to the NNPCL in dollars, offering significant savings compared to the cost of imported products. He added, “This will ensure the availability of petrol in every local government area across the country, regardless of location.”
On Sunday, the NNPCL began loading the first batch of petrol from the Dangote Refinery. Dangote, one of Africa’s foremost industrialists, launched operations at the $20 billion facility in Lagos last December. The refinery currently processes 350,000 barrels per day, with a goal of reaching its full capacity of 650,000 barrels per day by the end of 2024.
In addition to petrol, the refinery has started supplying diesel and aviation fuel to marketers within Nigeria. The country, Africa’s most populous, faces significant energy challenges, with all state-owned refineries currently non-operational. As a result, Nigeria relies heavily on imported refined petroleum products, with the NNPCL being the primary importer.
Since the removal of the fuel subsidy in May 2023, petrol prices have tripled from around ₦200 per litre to approximately ₦1,000 per litre, exacerbating the challenges faced by citizens, who depend on petrol for vehicles and power generators due to the country’s unreliable electricity supply.