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 PMS prices have no impact on the 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 the DRL if market prices are higher than pump prices in Nigeria, and the refinery is free to sell directly to any marketer on a willing buyer, willing seller basis.

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“MURIC should have verified the facts before making statements that are entirely flawed and has the potential to incite ordinary Nigerians against the NNPC Ltd,” Soneye added.

Analysis:

The statement by NNPC Ltd aims to address the misconceptions and misinformation spread by MURIC. By setting the record straight, NNPC Ltd seeks to reassure stakeholders and the public that it is committed to a free market environment and has no intention of undermining the Dangote Refinery or any other domestic refinery.

The clarification also highlights the importance of verifying facts before making public statements, especially for advocacy groups like MURIC. The NNPC Ltd’s response demonstrates a commitment to fairness, which is essential for building trust in the industry.

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