Dangote Refinery: No Guarantee Petrol Pump Price Will Drop – NNPCL

Commencing on September 15, the Nigeria National Petroleum Company Ltd (NNPCL) will start removing gasoline from the Dangote refinery; nonetheless, it has stated that a reduced price is unlikely.

Global market forces influence the pricing of petroleum products from refineries, including Dangote Refinery Ltd., the firm said in a statement issued on Saturday, September 7. The spokesman for the company is Olufemi Soneye. Soneye claims that the nation’s domestic product refining process does not ensure cheaper costs.

“The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces,” he said.

Soneye’s statement coincides with speculation that the business is seeking to control the whole supply of goods from Dangote Refinery Limited.

“The attention of the NNPC Ltd has been drawn to a press release by the 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 lower prices and that NNPC Ltd. has become the sole off-taker of all products from the refinery,” he said.

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Nnamdi Okoli