The Nigeria National Petroleum Company Ltd (NNPCL) on Saturday confirmed that there is no certainty of lower petrol prices across the country as it prepares to commence lifting of petroleum products from the Dangote Refinery on September 15, 2024......Read The Full Article>>.....Read The Full Article>>
In a statement released on Saturday, the NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that the pricing of petroleum products, including those from the Dangote Refinery, will be determined by global market forces.
Addressing the ongoing rumours about the NNPCL monopolizing the offtake of all products from the Dangote Refinery, Soneye revealed that the company’s actions are being misinterpreted.
This clarification follows concerns raised by the Muslim Rights Concern (MURIC), which suggested that NNPCL’s involvement might prevent the refinery from offering competitive pricing for Premium Motor Spirit (PMS).
Soneye refuted these claims, emphasizing that price adjustments would still be influenced by international factors and that there is no guarantee domestic refining will automatically result in lower prices.
This development comes as NNPCL prepares to lift its first batch of products from the Dangote Refinery, which is seen as a key milestone in Nigeria’s energy sector.