The Nigerian National Petroleum Company Limited (NNPC Ltd.) and Dangote Refinery are locked in disagreement over the loading price of Premium Motor Spirit (PMS) popularly called petrol at the latter’s refinery.
While NNPCL claimed that N898 is the current loading price, the Dangote Refinery debunked the claim saying that the amount quoted is wrong, describing it as malicious.
However, Mr Olufemi Soneye, the Chief Corporate Communications Officer, NNPC Ltd. said the price per litre from the refinery is N898.
He explained that the NNPC Ltd. paid the refinery N898.78 per litre for PMS, while the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fee is N8.99 and inspection fee is N0.97.
But the Group Chief Branding and Communications Officer, Dangote Refinery, Anthony Chiejina,
described the price announced by the NNPC Ltd. as ‘misleading and mischievous’ aimed at undermining the milestone achievement recorded by the refinery in addressing Nigeria’s energy insufficiency.
He urged Nigerians to disregard NNPC Ltd.’s statement and await a formal announcement on the pricing by the Technical Sub-committee on Naira-based crude sales to local refineries on Oct. 1.
Chiejina explained that
its current stock of crude was procured in dollars and sold to the NNPC Ltd. in dollars with a lot of savings against current imports.
NNPC Ltd.’s Spokesperson responded by saying that in line with the provisions of the Petroleum Industry Act (PIA), PMS prices were not set by Government, but negotiated directly between parties on an arms length.
He confirmed that he NNPC Ltd. is paying Dangote Refinery in United States Dollars (USD) for September 2024 PMS offtake, as Naira transactions will only commence on Oct. 1, 2024.
He assured that if the quoted pricing is disputed, NNPCL will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public.