Fuel Price War: NNPC, Dangote Refinery Embroiled in Controversy Over Disparity
A heated controversy has erupted between the Nigerian National Petroleum Company (NNPC) and Dangote Refinery over the pricing of fuel. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has questioned the significant disparity between the estimated retail prices of Dangote Refinery’s fuel and imported fuel sold by NNPC.
The Price Gap: What’s at Stake?
NNPC’s estimated retail prices for Dangote Refinery’s fuel range from N950.22 to N992.22 per litre, depending on location. This is substantially higher than NNPC’s current pump prices, which range between N855 and N897 per litre.
| Location | Dangote Refinery Price | NNPC Price |
|---|---|---|
| Lagos | N950.22 | N855-N897 |
| Rivers | N980.22 | N855-N897 |
| Abuja | N992.22 | N855-N897 |
NNPC’s Defense: Understanding the PIA
NNPC claims that the Petroleum Industry Act (PIA) dictates that PMS prices are determined through direct negotiations, rather than government-imposed rates.
Public Reaction: Frustration and Criticism
Nigerians are fed up with the government and NNPC’s inability to address the country’s energy needs. Critics argue that NNPC’s pricing strategy undermines Dangote’s efforts to address Nigeria’s energy crisis.
What’s Next for Dangote Refinery?
Dangote Refinery’s Group Chief Branding and Communications Officer, Anthony Chiejina, has urged the public to await an official announcement from the Technical Sub-committee on Naira-based crude sales to local refineries.
Stay tuned for further updates on this developing story.
