Dangote refinery denies selling fuel to NNPCL at 898 per litre

The Dangote refinery has denied the statement attributed to NNPC limited that it selling the PMS at N898 per litre to the company.

According to the statement released by the Group Chief Branding and Communications Officer, Anthony Chiejina on Sunday, stating that the claim is misleading and mischievous.

Dangote refinery said this statement aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency, insecurity, which has bedeviled the country’s economy in the past 50 years.
The company urged Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by Technical Sub-Committee on Naira-based crude sales to local refineries.

Which was appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that Dangote refinery current stock of crude was procured in dollars.

“It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing.
“With this action, there will be petrol in every local government area of Nigeria regardless of their remote nature. We assure Nigerians of availability of quality petroleum product and putting an end to the endemic fuel scarcity in the country”, Dangote said.

Meanwhile, the NNPC Limited has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.

According to the statement released by the Chief Corporate Communications Officer, Olufemi Soneye, adding that in line with the provisions of Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.
The NNPC Ltd also confirmed that it paid Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.

While assured that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.

It said, “Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing”.