Politics
NNPCL: No Assurance Of Petrol Price Drop Despite Dangote Refinery Operations
NNPCL: No Assurance Of Petrol Price Drop Despite Dangote Refinery Operations
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The Nigerian National Petroleum Company Ltd (NNPCL) has clarified that there is no assurance of reduced petrol prices, even as it prepares to begin lifting petrol from the Dangote Refinery starting September 15.
In a statement issued by spokesperson Olufemi Soneye on Saturday, September 7, the company emphasized that the cost of petroleum products from any refinery, including the Dangote Refinery, is influenced by global market trends. Soneye noted that domestic refining in Nigeria does not automatically translate to lower prices.
“The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd (DRL), is determined by global market forces,” Soneye stated.
This statement follows speculation that NNPCL might monopolize the distribution of products from the Dangote Refinery.
Soneye also addressed allegations raised by the Muslim Rights Concern (MURIC), which claimed that the NNPCL’s actions were hindering the Dangote Refinery’s ability to offer competitive pricing.
“MURIC has alleged that adjustments to the pump price of Premium Motor Spirit (PMS) will prevent the Dangote Refinery from offering lower prices, and that NNPCL has become the exclusive off-taker of all products from the refinery,” Soneye clarified.
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