NNPCL Denies MURIC’s Allegations of Undermining Dangote Refinery, Reaffirms Commitment to Free Market
NNPCL Responds to MURIC’s Allegations of Undermining Dangote Refinery
September 7, 2024
By Okafor Joseph Afam
The Nigerian National Petroleum Company Limited (NNPC Ltd) has refuted claims made by the Muslim Rights Concern (MURIC) that it is undermining the Dangote Refinery Limited (DRL) by controlling prices and becoming the sole offtaker of its products.
In a statement released on Saturday by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, the company emphasized that the pricing of petroleum products is determined by global market forces, and the recent changes in Premium Motor Spirit (PMS) prices have no bearing on DRL’s access to the Nigerian market.
“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,” Soneye stated.
NNPC Ltd also clarified that it will only fully offtake PMS from DRL if market prices are higher than the pump prices in Nigeria. The refinery, according to NNPC Ltd, is free to sell directly to any marketer on a “willing buyer, willing seller” basis.
“MURIC should have verified the facts before making statements that are entirely flawed and have the potential to incite ordinary Nigerians against NNPC Ltd,” Soneye added.
Analysis:
NNPC Ltd’s response addresses the misconceptions and misinformation spread by MURIC. By setting the record straight, the company reassures stakeholders and the public of its commitment to a free market environment. It affirms that NNPC Ltd has no intention of undermining the Dangote Refinery or any other domestic refinery.
The statement also highlights the importance of verifying facts before making public accusations, especially for advocacy groups like MURIC. NNPC Ltd’s approach demonstrates a commitment to transparency and fairness, which are essential in fostering trust within the petroleum industry.
