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NNPC Denies Plans to Control Dangote Refinery

In a recent statement, the Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed claims that it intends to become the sole off-taker of Dangote Refinery Limited’s (DRL) products. The statement was made by Olufemi Soneye, NNPC Ltd’s spokesperson, in response to a press release by the Muslim Rights Concern (MURIC), which alleged that NNPC Ltd’s actions were undermining Dangote Refinery’s operations.

According to Soneye, the refinery and any other domestic refinery are free to sell their products directly to marketers on a willing buyer, willing seller basis, which is the current practice for fully deregulated products. He emphasized that the pricing of petroleum products from any refinery, including Dangote Refinery, is determined by global market forces, and that recent changes in pump prices have not impacted the refinery’s access to the Nigerian market.

Soneye also stated that NNPC Ltd has no desire or intention to become the distributor for any entity in a free market environment, and that the notion of becoming a sole off-taker does not arise. He added that NNPC Ltd cannot undermine a business in which it holds a significant stake.

MURIC, an advocacy group, had claimed that recent changes to pump prices would prevent Dangote Refinery from offering lower prices, and that NNPC Ltd had become the sole off-taker of all products from the refinery. However, Soneye emphasized that MURIC should verify the facts before making statements that are entirely flawed and have the potential to incite ordinary Nigerians against the NNPC Ltd.

In conclusion, the NNPC Ltd has reaffirmed its commitment to a free market environment, and has dismissed claims that it intends to control Dangote Refinery’s operations. The company’s actions are designed to promote fair competition and ensure that refineries like Dangote Refinery have access to the market and can operate efficiently.