The Dangote Refinery has dismissed claims by the Nigerian National Petroleum Company Limited (NNPCL) that it sold petrol to the company at the exorbitant price of N898 per litre.
The refinery described the allegation as misleading and mischievous, aimed at undermining the refinery’s recent milestones in addressing Nigeria’s energy challenges.
The statement, attributed to NNPCL spokesperson Mr. Olufemi Soneye, has stirred controversy, coming at a time when the nation is eagerly awaiting the refinery’s impact on fuel supply.
However, Dangote Refinery has categorically denied selling Premium Motor Spirit (PMS) at such a high price to NNPCL, emphasizing that the information was intended to create confusion among the public.
“Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL,” the refinery’s statement read.
“This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy for the past 50 years.”
Dangote Refinery called on Nigerians to disregard the claim, urging them to wait for the official pricing announcement, which is expected to be made by the Technical Sub-Committee on Naira-based crude sales to local refineries.
The committee, appointed by President Bola Ahmed Tinubu, will announce the new pricing structure by October 1, 2024.
It is important to note, according to Dangote Refinery, that the refinery has not yet transitioned to Naira-based transactions, as its current stock of crude oil was procured in dollars.
The refinery also stressed that it sold products to NNPCL in dollars, resulting in significant savings compared to what the national oil company currently spends on importing refined fuel.
“With this action, there will be petrol in every local government area of the country regardless of their remote nature,” the statement assured Nigerians, adding that the refinery remains committed to delivering quality petroleum products and ending Nigeria’s long-standing fuel scarcity problem.
This controversy arises at a critical time when NNPCL has already commenced the lifting of refined petrol from the Dangote Petroleum Refinery.
This major development marks a significant milestone in the relationship between NNPCL and the refinery, as the latter has long been seen as a solution to Nigeria’s chronic fuel shortages and heavy reliance on imports.
NNPCL confirmed on Sunday, via its official social media accounts, that it had started loading petrol from the Dangote Refinery.
The tweet, which included photos of multiple petrol tankers being loaded at the refinery’s gantry, declared: “NNPC begins PMS lifting at the Dangote Petroleum Refinery.”
The refinery, located in the Lekki Free Trade Zone, is Africa’s largest oil refinery and the world’s largest single-train refinery.
It has the capacity to process 650,000 barrels per day (BPD) of crude oil, positioning Nigeria as a regional hub for petroleum products.
Before the launch of the Dangote Refinery, Nigeria, despite being Africa’s largest oil producer, relied almost entirely on imported refined petroleum products.
This dependence led to recurring fuel shortages, high prices, and economic pressure on the local currency, the Naira.
The refinery’s commencement of petrol distribution is expected to ease these problems by boosting local production and reducing the need for fuel imports.
The goal is not only to stabilize fuel prices but also to create a reliable and affordable supply of petrol for all Nigerians.
Speaking on this development, NNPCL’s Chief Corporate Communications Officer (CCCO), Femi Soneye, disclosed that at least 300 trucks were stationed at the refinery’s loading gantry on Saturday in preparation for the petrol lifting, which officially began on Sunday, September 15, 2024.
He described this as a major step forward for Nigeria’s energy sector, noting that the trucks were actively involved in distributing the much-needed fuel across the country.
The partnership between NNPCL and Dangote Refinery is seen as pivotal in ensuring that Nigeria’s fuel needs are met. The refinery’s operations are expected to provide a steady supply of fuel, even to remote areas, alleviating the long-standing issue of fuel scarcity.
