The Nigerian National Petroleum Company Limited, NNPCL has refuted claims by the Muslim Rights Concern, MURIC that it is undermining the Dangote Refinery Limited, DRL by controlling the market and preventing the refinery from offering lower prices.
In a statement issued on Saturday by NNPCL Chief Corporate Communications Officer, Femi Soneye, yhe Company clarified that the pricing of petroleum products is determined by global market forces and that the recent changes in petrol prices do not affect the DRL’s access to the Nigerian market.
Instead, the company noted that the current high prices present an opportunity for the refinery to sell its products at lower prices.
NNPC Limited also emphasised that it has no intention of becoming the sole off-taker of products from the DRL or any other domestic refinery, and that these refineries are free to sell directly to marketers on a “willing buyer, willing seller” basis.
The company further stated that it has a significant stake in the DRL and would not undermine its own investment.
NNPC Limited urged MURIC to verify facts before making statements that could incite ordinary Nigerians against the company.
(Editor: Terverr Tyav)
