Dangote Denies N897/Litre Petrol Claim
Dangote Sets Record Straight on Petrol Price
NNPCL directed its retail outlets to adjust the petrol pump price to...
Dangote Group denies reports that NNPCL is buying petrol from its refinery at N897 per litre, citing unfinished agreements and a commitment to transparency.
Dangote Group has dismissed reports that the Nigeria National Petroleum Company Limited (NNPCL) is purchasing petrol from its refinery at a rate of N897 per litre. The company's response comes after a national newspaper published a headline claiming that NNPCL was lifting petrol from Dangote's refinery at the stated price.
In a statement released on Thursday, September 5, Anthony Chiejina, Chief Branding and Communications Officer of Dangote Group, clarified that the company is not in a position to dictate petrol prices. According to Chiejina, this is because the group has yet to finalize its agreements with NNPCL. The statement aimed to set the record straight and address any misinformation surrounding the reported petrol prices.
Chiejina specifically referenced a headline published in a national newspaper, which read: “NNPC lifts Dangote Petrol, sells at N897 per litre.” The Dangote Group's statement emphasized that this claim is inaccurate and does not reflect the current state of affairs between the company and NNPCL. By issuing this clarification, Dangote Group seeks to ensure transparency and accuracy in reporting.
“We would like to state that NNPCL 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 NNPCL,” the statement read in part.
Following Dangote's clarification on petrol pricing, NNPCL directed its retail outlets to adjust the petrol pump price to N855 per litre. This development came just 48 hours after the company disclosed challenges in fuel imports, attributing a significant portion of the issue to a $6 billion debt.
“It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.
“As soon as it is finalized, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market,” he said.
The petrol market is heavily regulated, and prices are set by government agencies, not companies like Dangote Group. The company has no control over petrol prices and urges the public to disregard misleading reports.
Dangote Group reaffirms its commitment to transparency and fairness, operating within the regulatory framework set by government agencies. The company has no authority to influence petrol prices, which are determined by the relevant authorities.
No comments:
Leave comment here