The Dangote Group has refuted claims circulating that the Nigeria National Petroleum Company Limited (NNPCL) is currently sourcing petrol from its refinery at a rate of N897 per litre.
This denial was issued in a statement on Thursday by the Group’s Chief Branding and Communications Officer, Anthony Chiejina.
Chiejina emphasized that the company cannot set petrol prices as it has not yet finalized its agreement with NNPCL.
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The statement read: “Our attention has been drawn to a headline ‘NNPC lifts Dangote Petrol, sells at N897 per litre’ published in BusinessDay Newspapers on Wednesday, 4 September 2024.
“We would like to clarify that NNPC has not begun lifting refined Premium Motor Spirit (PMS), commonly known as petrol, from our Dangote Petroleum Refinery.
“Consequently, the issue of setting the price of petrol from our refinery does not arise, as we are still finalizing our contract with NNPC,” the statement continued.
The company further highlighted the tightly regulated nature of the oil industry, noting: “The PMS market is strictly regulated, which is well understood by all oil marketers and stakeholders in the sector.” It added, “We cannot determine, fix, or influence the product price, which falls under the jurisdiction of the relevant government authorities.”
The group urged the public to disregard the misleading headline and reaffirmed its commitment to transparency and fairness in its operations.
It also assured Nigerians of the availability of high-quality petroleum products nationwide.
