The Nigeria National Petroleum Company Ltd (NNPCL) announced on Saturday that there is no guarantee of lower petrol prices as it prepares to begin lifting fuel from the Dangote Refinery.
NNPCL is expected to start lifting petrol from the refinery on September 15.
In a statement by its spokesperson, Olufemi Soneye, NNPCL explained that the pricing of petroleum products from any refinery, including Dangote Refinery Ltd, is influenced by global market forces.
Soneye, who is the Chief Corporate Communications Officer, emphasized that domestic refining does not necessarily ensure reduced prices.
“The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces,” he said.
Soneye’s response comes amid rumours that the company is attempting to monopolise the offtake of all products from the Dangote Refinery Ltd.
“The attention of the NNPC Ltd has been drawn to a press release by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the Nigerian National Petroleum Company Limited (NNPC Ltd).
“Specifically, MURIC asserts 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,” he stated.