NNPC Refutes Claims Of Monopolizing Dangote Refinery Amid Fuel Scarcity

NNPC Refutes Claims Of Monopolizing Dangote Refinery Amid Fuel Scarcity

The Nigerian National Petroleum Company Limited (NNPC) has responded to recent allegations by the Muslim Rights Concern (MURIC) claiming that its actions were hindering the operations of Dangote Refinery Limited (DRL).

In a statement released on Saturday by Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, the company denied the accusation that adjustments in the pump price of Premium Motor Spirit (PMS) would block Dangote Refinery from offering competitive pricing.

NNPC clarified that it is not the sole purchaser of petroleum products in Nigeria and that the market is open to competition, including from local refineries like DRL. The company reiterated that the pricing of products from any refinery, including Dangote’s, is influenced by global market dynamics. However, they noted that the current high prices present a potential opportunity for local refineries to offer