The Nigerian National Petroleum Company, NNPC, Limited has explained the only condition under which it can become the sole distributor for Dangote Refinery they made the clarification in a statement by its Chief Corporate Communications Officer, Olufemi Soneye.
The firm also noted that the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd, is determined by global market forces. Furthermore, NNPC said, there is no guarantee of lower prices associated with domestic refining of the products in the country.
The company added that recent changes in petrol prices have no impact on the Dangote Refinery Limited, or any other domestic refinery’s access to the Nigerian market they said that the Dangote Refinery and other domestic refineries are free to sell directly to any marketer on a willing buyer, willing seller basis.
According to NNPC the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd.,is determined by global market forces the recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market.
In fact, 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.Furthermore, we emphasise that there is no guarantee of lower prices associated with domestic refining compared to any global parity pricing framework, as confirmed by the DRL.
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