Dangote, NNPCL disagree over price as firms says it didn’t sell petrol at N898/Litre

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Dangote Refinery has denied selling its Premium Motor Spirit (PMS), commonly known as Petrol, to the Nigerian National Petroleum Company Limited (NNPCL), at N898 per litre.

Olufemi Soneye, the spokesperson of NNPCL had on Sunday said the oil company sold to them at N898 per litre.

The oil firm had moved about 300 trucks to the 650,000 capacity refinery in Lagos, on Saturday, and loading commenced on Sunday.

Speaking over the price of premium motor spirit (PMS), otherwise known as petrol, Chief Spokesperson of the NNPCL, Olufemi Soneye, said, “We successfully loaded PMS at the Dangote Refinery today. The claim that we purchased it at N760 per litre is incorrect. For this initial loading, the price from the refinery was N898 per litre.”

Wale Edun, Minister of Finance and Coordinating Minister of the Economy, had also announced that NNPCL would be the sole off-taker of refined petrol from Dangote Refinery.

However Dangote described Soneye’s claim as misleading and mischievous, adding that it was intended to undermine Sunday’s milestone achievement. 

Anthony Chiejina, the Dangote Group’s Chief Branding and Communications Officer, in a statement told Nigerians to ignore the ‘malicious statement’ and await a formal announcement on the pricing of its product.

The statement said: “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.

“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 in the past 50 years.

“We urge Nigerians to disregard this malicious statement 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, bearing in mind that our 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 the country regardless of their remote nature.”

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