The Dangote Group has responded to a report alleging that its refinery plans to sell Premium Motor Spirit (PMS), commonly known as petrol, at N897 per litre. In a statement shared on the company’s official X account on Thursday, the Dangote Group clarified that no price for petrol has been set yet, emphasizing that they have not finalized any contracts with the Nigerian National Petroleum Corporation (NNPC).
The statement directly addressed the claim made in *Business Day Newspaper* on Wednesday, September 4, 2024, which suggested that NNPC had begun lifting petrol from the Dangote Petroleum Refinery and would sell it at N897 per litre. Dangote Group firmly denied this, stating that NNPC has not commenced lifting refined PMS from their refinery, and as a result, there has been no discussion about setting the price of petrol.
Additionally, the company highlighted that the PMS market is strictly regulated, which is well understood by all stakeholders and oil marketers. Therefore, discussions regarding pricing cannot occur until the contract between Dangote Group and NNPC is fully finalized.
Part of the statement reads:
“Our attention has been drawn to a headline “NNPC lifts Dangote Petrol, sells at N897 per litre” published in the Business Day Newspaper of Wednesday, 4 September 2024. We would like to state that NNPC has not commenced lifting of refined Premium Motor Spirit, PMS, commonly known as Petrol from our Dangote Petroleum Refinery. Therefore, the issue of fixing the price of petrol lifted from our refinery does not arise, as we are yet to finalize our contract with NNPC. The PMS market is strictly regulated, which is known to all oil marketers and stakeholders in the sector”.
