The Nigerian National Petroleum Company Limited (NNPC Ltd) on Saturday said it is not the sole offtaker of all products from the Dangote Refinery.
NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, stated that petroleum pricing is determined by global market forces, and recent changes in pump prices don’t affect Dangote Refinery’s access to the Nigerian market.
He added that the refinery is free to sell directly to any marketer.
NNPC Ltd dismissed allegations of becoming a sole distributor, stating it has no intention to dominate a free market environment.
The NNPC Ltd made this known in reaction to a statement that the Dangote Refinery Limited is being undermined by actions of the company.
On Friday, the Muslim Rights Concern, MURIC, claimed that recent changes to the pump price of petrol will prevent the Dangote Refinery from offering lower prices and that NNPC Ltd has become the sole offtaker of all products from the refinery.
In its statement on Saturday, the NNPC said the pricing of petroleum products from any refinery, including the Dangote Refinery, is determined by global market forces, noting that the recent changes in petrol prices have no impact on Dangote Refinery or any other domestic refinery’s access to the Nigerian market.
The company also highlighted its significant investment in the Dangote Refinery, making undermining the business counterproductive.
“To set the records straight, NNPC Ltd wishes to further state as follows: The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd (DRL), is determined by global market forces.
“The recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market,” Mr Soneye said.
The NNPC spokesperson said if current prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market.
