The Federal Government has clarified its stance on the ongoing controversy between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery regarding petrol pricing.
President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, addressed the issue while briefing State House correspondents in Abuja.
Onanuga emphasized that the deregulation of the petroleum market allows both Dangote and NNPCL, as oil refiners and marketers, to set their prices.
“The PMS price regime has been deregulated. Dangote is a private company. NNPCL, you should not forget, is a limited liability company,” Onanuga stated. “Whatever controversy both of them are having is their problem.”
The controversy began when NNPCL announced that Dangote Refinery sold petrol to them at ₦898 per liter. However, Dangote countered that this price was misleading, asserting that his refinery sold petrol to NNPCL at a lower rate than the cost of imported fuel.
CEO of Dangote Refinery, Aliko Dangote, recently added that the removal of subsidies is entirely dependent on the government, not his company.
Currently, the lowest pump price of petrol stands at ₦895 per liter.
Onanuga reiterated that the government will not interfere in the dispute, allowing both parties to operate according to market forces.
“Private marketers have indicated that they find the NNPC or Dangote price too high and may resort to importing fuel.
“If NNPC fuel is too expensive, the public market can import their fuel and sell it at a price they find reasonable and profitable,” Onanuga submitted.
