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NNPC Lied About Pump Price, Our Fuel Is 15% Cheaper Than NNPCL’s Imported Ones — Dangote
And so when they announced our price, the guy, I don’t know whether he was authorized. It wasn’t the real price.
The Chairman of Dangote Group, Aliko Dangote has accused the Nigerian National Petroleum Company Ltd. (NNPCL) of misleading the public on prices of fuel lifted from his refinery in Lagos State, stating that the price of Dangote Refinery’s petrol is 15 percent cheaper than the ones imported by the Nigerian National Petroleum Company Limited.
Dangote, during his recent interview with Bloomberg TV, stated that the fuel purchased from his refinery on September 15th by NNPCL was priced 15% lower than NNPCL’s imported fuel.
This revelation was weeks after NNPCL disclosed that it bought petrol from Dangote Refinery at N898 per liter upon lifting the company’s locally made petrol in Lagos State on September 15, 2024.
He added that the price fixed by NNPC was not transparent and it was as a result of high costs spent on importing fuels from foreign countries.
In his words, “There wasn’t a disagreement, per se. NNPC bought from us on the 15th of September at the international price, which they also bought, about 800,000 metric tons of gasoline imported.
“So the one that they bought from us is cheaper than the one they are importing.
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“And so when they announced our price, the guy, I don’t know whether he was authorized. It wasn’t the real price. What they have announced is most likely what it cost them, including profit and other expenses.
“And then the other one is one that they imported. But the people don’t know how much they spend in terms of imports, but their importation is almost, maybe about 15 percent more expensive than ours, you know.
“So what they are supposed to do is to sell at a basket price, or if they want to remove subsidy, they can announce that they will remove subsidy, which is okay, everybody you know, will adjust it.”
The estimated pump price for petrol based on Dangote Refinery’s September 2024 PMS pricing is outlined as follows:
In Sokoto State, the price is set at N999.22, while Katsina State faces challenges with supply. In Borno State, the price is set at N1,019.22 per litre. In Sokoto, Kano, Kaduna, and the FCT, the price is set at N999.22, while it is N950.22 in Lagos and N960.22 in Oyo. It will be sold for N980.22 in Rivers and Imo states.
Meanwhile, a report from SaharaReporters has it that “a press statement issued by the state-owned company’s Chief Corporate Communications Officer, Olufemi Soneye, on Monday, revealed the estimated pump prices of Premium Motor Spirit (PMS) obtained from Dangote Refinery at its retail stations nationwide, based on September 2024 pricing.
“The company had emphasised that the PMS prices were negotiated directly between parties and not set by the government, in line with the Petroleum Industry Act (PIA).”