We Are Yet To Finalise Contract With NNPCL- Dangote

The Dangote Petroleum Refinery Ltd has said that it has not fixed the price for its new Premium Motor Spirit (PMS) and no firm has commenced lifting of the product which it unveiled on Tuesday.

The refinery said it is finalizing its contract with the Nigerian National Petrol Company Ltd (NNPC) for the delivery of its PMS across filling stations.

The firm said this to refute claims that the state-owned company has commenced lifting PMS popular as petrol from its refinery at the cost of N897 per litre.

In full operation capacity, Dangote refinery has the ability to process 650,000 barrels of crude per day and refine over half of the crude to PMS.

“Our attention has been drawn to a headline, “NNPC lifts Dangote Petrol, sells at N897 per litre” published 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,” the refinery said in a statement signed by the Group Chief Branding and Communications Officer, Anthony Chiejina.

It added, “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 can not 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.”

Dangote Refinery said it is guaranteeing Nigerians of exceptionally high-quality petroleum products that will be readily available all over the country.

This medium reported that the NNPC delivered 30 million barrels of crude oil crude oil to the refinery to facilitate production.

The state-owned company is also selling the crude oil to Dangote Refinery in naira while the PMS will also be sold in the local currency.

“The good thing also is that we have Dangote Refinery coming up with production as it’s been announced and that would also provide a source of supply into the country,” the Executive Vice President of Downstream, Adedapo.