NNPCL Speaks On Lower Prices From Dangote Refinery

The Nigeria National Petroleum Company Ltd (NNPCL) has clarified that there is no guarantee of lower prices for petroleum products from the Dangote Refinery, despite plans to begin lifting petrol from the facility on September 15.

In a statement, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, stressed that global market forces determine the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd.

Soneye’s comments come amid speculation that NNPCL is attempting to monopolize the offtake of all products from the Dangote Refinery.

He denied claims by the Muslim Rights Concern (MURIC) that NNPCL’s actions would prevent the Dangote Refinery from offering lower prices.

NNPCL, however, assured that the pricing of petroleum products is subject to global market forces, and there is no guarantee of lower prices associated with domestic refining in Nigeria.