Dangote Kicks As NNPC Ltd Discloses PMS Pricing, Costs From Dangote Refineries

Dangote Refineries has faulted Premium Motor Spirit (PMS) pricing released by the Nigerian National Petroleum Corporation Limited (NNPC Ltd) which the Corporation attributed mainly to outcome of its negotiation Dangote Refineries.

Dangote Refineries described a statement which disclosed the pricing as “misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded…. towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.”

The Dangote Refineries in a statement by its Group Chief Branding and Communications Officer, Anthony Chiejina, confirmed that it 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”, he asserted.

The full text of Dangote Refineries statement reads below

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.

Anthony Chiejina
Group Chief Branding and Communications Officer

15th September, 2024