By Ogaga Ariemu There are indications that the $20 billion worth of Dangote Refinery may be in a fresh challenge with the Nigerian N...
By Ogaga Ariemu
There are indications that the $20 billion worth of Dangote
Refinery may be in a fresh challenge with the Nigerian National Petroleum
Company Limited.
This seems to be the case as NNPCL on Saturday refuted claim
that it was Dangote Refinery’s Petrol sole buyer.
Recall that NNPCL, in a statement by its spokesperson,
Olufemi Soneye, on Saturday clarified that the state-owned oil firm will not be
the sole buyer of Dangote’s petrol.
NNPCL’s clarification came in response to Muslim Rights
Concern, which claimed that the Dangote refinery was being undermined by the
NNPCL.
Specifically, MURIC said the recent petrol pump price hike
by NNPCL retail outlets to N897 from N617 per liter was to stop Dangote
Refinery from offering PMS at lower prices.
However, NNPCL clarified that DRL prices are determined by
global market forces, noting that the firm’s recent pump price hike has no
impact on the refinery.
“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.”
NNPCL stressed that Dangote Refinery is free to sell its PMS
to marketers.
However, the position contradicts Aliko Dangote, the
President of Dangote Refinery, last week while announcing the rollout of the
refinery’s petrol.
Dangote had said the rollout of his petrol was dependent on
NNPCL.
According to him, Dangote Petrol “will be ready in 48 hours,
depending on NNPCL.”
Meanwhile, NNPCL’s recent statement that “it will only fully
offtake PMS from the DRL if the market prices of PMS are higher than the pump
prices in Nigeria”, poses a significant challenge to 650,000 barrels per day
refinery.
The challenge of who will buy Dangote Refinery’s petrol
lingers. Although NNPCL had earlier announced that it would lift petrol from
Dangote Refinery on September 15, 2024, the latest statement leaves Nigerians
with more anxiety.
Recall that the Vice President of Oil and Gas at Dangote
Industries Limited, Devakumar Edwin, last week while speaking at the Brekete
Family Live show, said that Dangote petrol would be exported if the NNPCL and
other petroleum dealers in the country refused to patronize it.
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