NNPCL Under Fire: Dangote Alleges Lack of Transparency in Fuel Pricing
Aliko Dangote, Chairman of Dangote Group, has publicly accused the Nigerian National Petroleum Company Limited (NNPCL) of deceiving the public about the prices of fuel lifted from his refinery in Lagos State.
In a recent interview with Bloomberg, Dangote revealed that the fuel purchased from his refinery on September 15th was priced 15% lower than NNPCL’s imported fuel.
“What is going on is not really a disagreement per se. NNPC bought from us this particular one, on the 15th of September at the international price,” Dangote stated.
He further emphasized that the price fixed by NNPC was not transparent and was influenced by high costs associated with importing fuels from foreign countries.
Dangote pointed out the discrepancy in prices, stating, “The one that they bought from us is cheaper than the one they are importing… their own import is almost or maybe about 15% to 20% more expensive than ours.”
He suggested that NNPCL should sell at a ‘basket price’ or announce the removal of subsidies, allowing everyone to adjust accordingly.
The controversy surrounding the fuel prices has been ongoing, with SaharaReporters revealing that NNPCL altered the breakdown of the estimated price of petrol bought from the Dangote refinery.
The estimated pump prices for petrol vary across states, ranging from N950.22 in Lagos to N1,019.22 in Borno State.
Olufemi Soneye, NNPCL’s Chief Corporate Communications Officer, clarified that PMS prices are negotiated directly between parties and not set by the government, in line with the Petroleum Industry Act (PIA).
However, Dangote’s accusations raise concerns about transparency and fairness in the pricing of fuel in Nigeria.