By Uzair Adam
The Nigerian National Petroleum Company Limited (NNPCL) has disputed claims made by the Muslim Rights Concern (MURIC) regarding the pricing of Premium Motor Spirit (PMS) and its impact on the Dangote Refinery.
MURIC had asserted that recent adjustments to petrol prices would prevent the Dangote Refinery from offering lower prices and that NNPCL had become the exclusive offtaker of all products from the refinery.
In a statement released by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, the company clarified that petroleum product pricing, including that from the Dangote Refinery, is dictated by global market forces.
The recent changes in PMS pricing, it noted, do not affect the refinery’s access to the Nigerian market.
NNPCL noted that the refinery could sell its products at lower prices if the current market rates are perceived as high, and reiterated that domestic refining does not guarantee lower prices when compared to global parity pricing.
Furthermore, NNPCL stated that it would only become a full offtaker from the Dangote Refinery if PMS market prices exceeded local pump prices.
It also made clear that both the Dangote Refinery and other domestic refineries are free to sell directly to any marketers on a willing buyer, willing seller basis.
NNPCL denied any intention of becoming the sole distributor for the refinery’s products and underscored its billion-dollar investment in the business, urging MURIC to verify facts before making public statements that could incite the public.