Some concerned Nigerians have called on the Dangote Refinery and Petrochemicals to publicly clear the confusion surrounding the price of its petroleum products.
Even though the refinery has commenced the sale of the petrol, Nigerians are still left in the dark as to the actual price of the products.
Recently, the Dangote Group stated that it cannot determine, fix, or influence the price of its petrol, disclosing that such falls under the purview of the federal government’s regulatory authorities.
“The PMS market is strictly regulated, which is known to all oil marketers and stakeholders; hence, it cannot determine, fix, or influence the product price, which falls under the purview of relevant government authorities,” it said.
However, government sources disclosed that the federal government was considering granting the refinery the authority to set the price of the product.
Meanwhile, after lifting the product on Sunday, the sole offtaker of the product, the Nigerian National Petroleum Company Limited (NNPC Ltd), revealed that it bought the product from the Dangote refinery at the price of N898 per litre.
Mr. Olufemi Soneye, Chief Communications Officer of the NNPC Ltd., said the 16.8 million litres released to the national oil company were sold at the rate of N898 per litre.
“But today, for this initial 16.8 million litre that was given to us, it was at the rate of N898,” he affirmed.
However, in a swift reaction, the Dangote Group denied selling the petroleum product to the NNPC Ltd. at N898 per litre.
The Group Chief Branding and Communications Officer, Anthony Chiejina, in a statement on Sunday said the statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that it sold its PMS at N898 per litre to the NNPCL was “misleading and mischievous.
He, therefore, urged Nigerians to disregard it 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.
While noting that the current stock of crude was procured in dollars, the refinery disclosed that it sold the products to NNPCL in dollars with a lot of savings against what they are currently importing but refused to reveal the actual amount to Nigerians.
Reacting to the development, the Special Assistant to former President Muhammadu Buhari on Digital Communications, Bashir Ahmad @BashirAhmaad, said, “I don’t know if it is only me, but I was confused when I read that the Dangote Refinery sold petrol to NNPCL at N898/litre.
“I had expected that since the fuel is now being refined locally, the product would be sold at a lower price, as the transportation costs from abroad would no longer apply. If anyone with more knowledge could clarify the situation, I would greatly appreciate it,” he said.
Also speaking, Abu Usman @goodtaye said, Why can’t Dangote Group come and explain to the public how much you are selling the PMS? You earn the support and sympathy of the people; it’s time to support the poor people of Nigeria also. Please don’t do the same thing you did in the cement industry. Na Beg, we dey beg you, sir.”
On his part, Ayekooto @DeeOneAyekooto said that if Dangote Refinery knows that the price of N898 expressly stipulated by NNPCL is wrong, the ideal and sincere thing for Dangote Refinery is to announce the actual price. Without that, NNPCL is more sincere!.”
Abba Audu Benisheikh @AbbaAudu said, “If it’s not N898, then what is the price? Let them inform Nigerians of the actual cost. NNPC have issued Letters of Credit for the product, and there’s an invoice. Let Dangote disclose the price.”
