Dangote Refinery Denies NNPC Lifting Petrol, Refutes Price Speculation

The Dangote Petroleum Refinery has dismissed claims published in a recent report by BusinessDay Newspapers, which stated that the Nigerian National Petroleum Corporation (NNPC) has begun lifting petrol from the refinery at a price of N897 per litre. In a press statement released on Wednesday, 4th September 2024, Dangote Group clarified that no such lifting of refined Premium Motor Spirit (PMS), commonly known as petrol, has taken place.

The statement, signed by Anthony Chiejina, the Group Chief Branding and Communications Officer, emphasized that the Dangote Petroleum Refinery has yet to finalize its contract with NNPC. As a result, the issue of pricing petrol from their facility is not applicable at this stage.

“NNPC has not commenced lifting of refined Premium Motor Spirit (PMS) from our Dangote Petroleum Refinery. Therefore, the issue of fixing the price of petrol lifted from our refinery does not arise, as we are yet to finalize our contract with NNPC,” the statement read.

Dangote Group further highlighted that the PMS market in Nigeria is strictly regulated, and the refinery cannot influence the pricing of petrol, which falls under the jurisdiction of the relevant government authorities. They urged the public to disregard the misleading headline, which inaccurately portrayed the current situation.

Chiejina assured Nigerians of the refinery’s commitment to delivering high-quality petroleum products that will be readily available across the country once operations commence.

The press statement from Dangote comes amid growing public interest in the refinery’s output as Nigeria grapples with fluctuating fuel prices and supply challenges. The Dangote Refinery, expected to be a game-changer in the nation’s oil sector, has faced immense scrutiny as stakeholders await the start of its operations.

Further updates regarding the refinery’s contracts with NNPC and the commencement of fuel lifting are anticipated in the coming weeks.