…What is even more shocking to most is that NNPC is the sole buyer of Dangote product and many still don’t understand the rationale for that
MON SEPT 16 2024-theGBJournal| Millions of Nigerians are still in shock after the NNPC announced that it can ”confirm that it is paying Dangote Refinery in US Dollar for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.”
This means Nigerians will still be paying the dollar equivalent for petrol at the retail end despite the fact that it is now refined in the country. Besides, since it is refined locally, many had expected that the talk of ”landing cost” does not apply.
The NNPC spokesperson, Olufemi Soneye, earlier on Saturday had alerted that Dangote Refinery management sold petrol to NNPC Limited at the cost of N898 per litre.
Dangote Refinery management, in a statement signed by its Group Chief Branding and Communication Officer, Anthony Chiejina responded to the claim, dismissing it as ”misleading and mischievous.”
Dangote went on to urge Nigerians to disregard ”this malicious statement” and await announcement on the pricing, by the Technical sub-Committee on Naira-based crude sales to local refineries…bearing in mind that our current stock of crude was procured in dollars.”
NNPC responded Midnight, in a statement absolving itself of the unfolding pricing scam, ”that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.”
It also attached to the statement the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing.
The NNPC Ltd also noted ”that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.”
In the attached PMS (petrol) pricing sheet, Dangote Refinery/NNPCL fixed pump price in Lagos at N950 per litre. Loading at Dangote Refinery PMS gantry was priced at N898/78.
”What they told is different from what we are seeing,” one exasperated motorist in Lagos told theG&BJournal.
”The President (Tinubu), NNPC, Dangote and all the economists in this country that once Dangote start producing petrol price will come down like rain,” he said.
What is even more shocking to most is that NNPC is the sole buyer of Dangote product and many still don’t understand the rationale for that.
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