The Nigerian National Petroleum Company Limited, NNPCL, has declared that it is not the sole offtaker of petrol from Dangote Refinery Limited, DRL.
This is as it also asserted that it would not do anything to undermine DRL.
The NNPCL made the declaration on Saturday in a statement issued by its spokesman, Mr. Olufemi Soneye, to counter the claims made by an Islamic human rights organization, Muslim Rights Concern, MURIC.
According to Soneye, the NNPCL would only fully offtake PMS from the DRL if the market prices of petrol were higher than the pump prices in Nigeria.
Stressing that the idea of becoming a sole offtaker did not arise, he said DRL and any other domestic refinery were free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products.
Soneye said MURIC should have verified before making its claims which was described as capable of inciting ordinary Nigerians against the NNPCL.
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Emphasising the need to set the record straight, he said:
“1. The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd (DRL), is determined by global market forces. The recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market. In fact, if current prices are perceived as high, it presents an ideal opportunity for the refinery to sell its products at lower prices in the Nigerian market.
“2. Furthermore, we emphasize that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the DRL. The NNPC Ltd will only fully offtake PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria. The DRL and any other domestic refinery are free to sell directly to any marketer on a willing buyer, willing seller basis, which is the current practice for all fully deregulated products. NNPC Ltd has no desire or intention to become the distributor for any entity in a free market environment, and therefore, the notion of becoming a sole offtaker does not arise.
“3. The NNPC Ltd cannot undermine a business in which it holds a billion-dollar stake.
“4. As an advocacy group for fair and just treatment, MURIC should have verified the facts before making statements that are entirely flawed and has the potential to incite ordinary Nigerians against the NNPC Ltd.”
