NNPCL, Dangote trade words over PMS pump price

.We bought petrol from Dangote Refinery at N898 per litre-NNPCL

.NNPCL’s claim misleading, mischievous, says Dangote

.FG hails lifting of petrol from Dangote refinery, says it’s a step towards industrialisation, local refining

The Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Group, owners of the Dangote Petroleum Refinery, on Sunday, exchanged words over the price of Premium Motor Spirit (PMS) purchased from the refinery.

While the NNPCL said it bought petrol from the Dangote Refinery at N898 per litre, the Dangote Group described the claim as “misleading and mischievous”.

The NNPCL spokesman, Femi Soneye, on Sunday afternoon, said that 16.8 million litres of petrol have been lifted from the refinery at N898 per litre.

His words: “We successfully loaded PMS at the Dangote Refinery today (Sunday). The claim that we purchased it at N1,300 per litre or at N760 is incorrect.

“For this initial loading, the price from the refinery was N898 per litre. I can also confirm, in response to your inquiries, that we will receive 16.8 million litres.

“As of 4 pm Sunday, we have loaded about 70 trucks today and it’s still ongoing,” he said.

But reacting, the Dangote Group in a statement by Anthony Chiejina, Group Chief Branding and Communications Officer, described the claims as “misleading and mischievous”.

The statement reads: “Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.

“This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.

“We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.

“It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature.

“We assure Nigerians of availability of quality petroleum product and putting an end to the endemic fuel scarcity in the country”.

It would be recalled that the NNPCL began loading the first batch of petrol from the Dangote Refinery on Sunday.

Meanwhile, the Federal Government has hailed the commencement of petroleum product lifting from the Dangote Petroleum Refinery and Petrochemicals, describing it as a significant step towards national industrialisation and self-sufficiency in refining.

Mr Anthony Chiejina, Head of Communications, Dangote Group, in a statement, said that trucks from the Nigerian National Petroleum Corporation Ltd. (NNPCL) had begun transporting petrol from the refinery located in Ibeju-Lekki, on Sunday in Lagos.

Leading the government delegation, Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, also described the development as a landmark moment that revitalises Nigerians’ confidence in domestic industrialisation and refining capabilities.

“This marks Nigeria’s return to local refining and supply of petroleum products, a significant milestone after decades of import reliance,” Edun said.

The minister, accompanied by Dr Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service and Chairman of the Technical Sub-Committee on Naira-based crude sales to local refineries, said that this initiative would ensure Nigeria’s energy security and independence.

He highlighted the benefit of alleviating persistent fuel scarcity and long queues at gas stations, aligning with President Bola Tinubu’s vision of adding value to raw materials before export.

Edun further acknowledged Tinubu’s role in establishing the free trade zone concept during his tenure as Lagos State governor.

“This achievement strengthens Nigeria’s energy security and supports the government’s policy of promoting domestic investment.

“President Tinubu’s vision was to ensure no raw material leaves Nigeria without added value. I commend President Tinubu for facilitating the supply of crude to local refineries in naira and for his role in this achievement,” he added.

Edun also commended Aliko Dangote, President of Dangote Industries Ltd., and his team for restoring Nigeria’s position as a producer of refined products, nearly three decades after the country ceased local refining.

He commended Dangote’s patriotism and unwavering commitment to bringing the refinery project to fruition despite initial doubts.