The attention of the NNPC Ltd has been drawn to a press release bythe 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 lowerprices and that NNPC Ltd has become the sole offtaker of all productsfrom the refinery.
To set the records straight, NNPC Ltd wishes to further state as follows:
1. The pricing of petroleum products from any refinery, including theDangote Refinery Ltd (DRL), is determined by global market forces.
The recent changes in PMS prices have no impact on the DRL or anyother domestic refinery’s access to the Nigerian market. In fact,ifcurrent prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market.
2. Furthermore, we emphasize that there is no guarantee of lowerprices associated with domestic refining compared to any globalparity pricing framework, as confirmed by the DRL. The NNPC Ltd willonly fully offtake PMS from the DRL if the market prices of PMS arehigher than the pump prices in Nigeria.
The DRL and any otherdomestic refinery are free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products. NNPC Ltd has no desire or intention to become the distributor for any entity in a free market environment, and therefore, the notion of becoming a sole offtaker does not arise.
3. The NNPC Ltd cannot undermine a business in which it holds abillion dollar stake.
4. As an advocacy group for fair and just treatment, MURIC shouldhave verified the facts before making statements that are entirely flawed and has the potential to incite ordinary Nigerians against the NNPC Ltd.
Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd
Abuja
For more information about Alfijir labarai you can follow us at 👇
https://twitter.com/Musabestseller?s=09
https://www.facebook.com/profile.php?id=100089640289165
https://www.threads.net/@alfijirlabarai
https://www.youtube.com/@BestsellerChannel12
https://www.instagram.com/musa_bestseller?utm_source=qr&r=nametag
Ko a latsa nan don shiga Group Whatsapp na Alfijr Labarai 👇👇
https://chat.whatsapp.com/ELQRQyq1zGn7zpAVP8DwNj