The presidency said on Wednesday President Bola Tinubu would not intervene in the disagreement between the Nigerian National Petroleum Company (NNPC) Limited and Dangote Petroleum Refinery over the price of petrol.

NNPC said on September 15 it bought petrol from Dangote refinery at N898 per litre.

The company added that it bought 16.8 million litres of petrol from the refinery.

But Dangote Refinery in a statement issued by its spokesman, Anthony Chiejina, described the NNPC’s claim as “misleading and mischievous.”

In a chat with State House correspondents, the Special Adviser on Information and Strategy to the President, Bayo Onanuga, said Nigerians would reap the benefits of the competitive pricing in the downstream sector of the petroleum industry.

He reminded all that the sector has been deregulated for oil marketers to import petrol and sell the product at a reasonable price.

Onanuga said: “The PMS regime has been deregulated. Dangote is a private company. NNPC should not forget that it is a public limited liability company.

“Whatever controversy both of them are having is their problem. They are operating in terms of the Petroleum Industry Act.

“NNPC is on its own, even though it’s owned by the federal government, the state government and local councils and everything, but it’s operating as a limited liability company.

“You can see what the private market has said that I think they find the NNPC or Dangote price too much for them. They will resolve to import fuel.

“It is the consumers who benefit if a price war starts. If NNPC fuel is too much, the public market can go to the market and bring in their own fuel and sell at the price that they think is very reasonable and profitable for them.”

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