Fuel Scarcity: Why We Cannot Determine Price Of Petrol – Dangote

Dangote Petroleum Refinery, on Thursday, disclosed the reasons why the company can not determine its petrol price.

The Group Chief Branding and Communications Officer, Anthony Chiejina, in a statement, noted that PMS market is strictly regulated, which is known to all oil marketers and stakeholders in the sector, hence the reason Dangote cannot determine, fix, or influence the product price.

He equally condemned the publication by an online media (Not Naija News), that Dangote group has fixed the price of its refined Premium Motor Spirit (PMS), commonly known as petrol at ₦897 per litre.

He noted that Nigerian National Petroleum Corporation, Limited, NNPCL, is yet to lift their product.

Read the statement below, “Our attention has been drawn to a headline “NNPC lifts Dangote Petrol, sells at ₦897 per litre” published in a news media, on 4 September 2024.

“We would like to state that NNPC has not commenced lifting of refined Premium Motor Spirit (PMS), commonly known as petrol, 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 PMS market is strictly regulated, which is known to all oil marketers and stakeholders in the sector, hence we cannot determine, fix, or influence the product price, which falls under the purview of relevant government authorities.

“We urge the public to disregard the headline as it is misleading and does not represent the true position in this matter.

“We are guaranteeing Nigerians of exceptionally high quality petroleum products that will be readily available all over the country.”