We sold petrol to you in dollars not in Naira, Dangote counters NNPC’s N898 per litre claim

By KEMI KASUMU

“The NNPCL favours continued importation of refined fuel that is in dollar and which is the only reason to justify hike of this nature in price of petrol. Nigerians own this crude oil. We should sell it to ourselves at our own local currency that is not equivalent of international market at dollar rate. But, by your attitude now, we sold our crude to the refinery owned by one of us for our collective good at prevailing international market price in dollar so we won’t ever be free from hardship. It is the reason the Minister (Tinubu) made it public to sell crude to the local refinery in Naira but in truth he actually sold to Dangote in dollar…”

Nigerians are into another day of transparency-based controversy as Dangote Refinery hits back at the government-controlled Nigerian National Petroleum Company Limited (NNPCL), which claimed to have bought Premium Motor Spirit (PMS) known as petrol from the private refinery in Naira at N898 per litre.

Dangote, which debunked the NNPCL’s claims, said it sold its PMS to it in Dollars not in Naira of any N898 per litre.

Earlier on Sunday September 15, 2024, the Chief Spokesperson of the NNPCL, Olufemi Soneye, was said to have made the claim while commenting on the lifting of petrol from the facility located in the Ibeju-Lekki area of Lagos.

“We successfully loaded PMS at the Dangote Refinery today (Sunday). The claim that we purchased it at N760 per litre is incorrect. For this initial loading, the price from the refinery was N898 per litre,” Soneye was quoted to have said.

However, reacting to the claim, the Dangote Refinery urged Nigerians to disregard the information provided by the government-controlled company which it described as malicious and misleading.

In a statement by Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote, the company asked the public to wait for a formal announcement on the pricing by a technical committee of the Federal Government.

“Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.

“This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedevilled the economy in the past 50 years.

“We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.

“It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature.

“We assure Nigerians of the availability of quality petroleum products and putting an end to the endemic fuel scarcity in the country,” read the Dangote Refinery statement.

On Saturday, September 14, 2024, the national oil company deployed no fewer than 300 trucks to the loading gantry of the Dangote Refinery ahead of distribution set to commence on Sunday.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edu, had announced that NNPCL would be the sole buyer of petrol from Dangote Refinery for onward distribution to other local marketers.

He made this known at the Technical Sub-Committee meeting on the sale of crude oil to local refineries in naira in Abuja on Friday, where he was represented by Zacch Adedeji, Executive Chairman of Federal Inland Revenue Service (FIRS).

Transparency is lacking here – Nigerians react

Nigerians, who said the Dangote’s yet another revelation had provided them with clearer picture of lack of transparency on the part of government in the deal with the privately owned local refinery, lamented as one of them said, “So, despite President Bola Tinubu’s public declaration that NNPCL, which had all along refused to sell crude oil to Dangote, should not only sell the crude to the oil refinery but also make the sales in Naira, the government’s company actually sold to Dangite in Dollar.

“That is my opinion on what has happened. The way I understand it is that, NNPCL sold to Dangote in Dollar and tried to cover up by announcing to Nigerians that they bought refined product of petrol back from Dangote in Naira. That was the meaning of saying ‘we bought PMS from Dangote at N898 per litre.’ Why all the lack of transparency?

“The answer is simple. It is that, what we all along thought to be rumour is now being confirmed that government is not sincere with support it made public to give to Dangote. Otherwise, can NNPCL do anything without the Minister of Petroleum Resources who is President of Nigeria knowing?

“The NNPCL favours continued importation of refined fuel that is in dollar and which is the only reason to justify hike of this nature in price of petrol. Nigerians own this crude oil. We should sell it to ourselves at our own local currency that is not equivalent of international market at dollar rate. But, by your attitude now, we sold our crude to the refinery owned by one of us for our collective good at prevailing international market price in dollar so we won’t ever be free from hardship. It is the reason the Minister (Tinubu) made it public to sell crude to the local refinery in Naira but in truth he actually sold to Dangote in dollar or (do I say?) he sold crude to it in Naira at prevailing international market dollar rate. This is unfair,” he said.

According to the analyst, the reason covered up truths are being let out now is because Dangote is not a small fry, “otherwise, this is how Nigerians would be deceived and have their destiny tossed around by this government and we will continue to wallow and grope in the artificial darkness created for us thinking that our economic problem is supernatural. It is not true.

“And you have a journalist sit on the television, leaving his job of helping Nigerians to know the truth for apparently defending all of these insincerity of government and its NNPCL. That was what he did when he further insulted already cheated and wounded Nigerians by his comment that says “there is no need for controversy. I have double-checked the Dangote spokesman Chiejina’s statement and there is no place he mentioned price.” He earlier already said Nigerians should not expect that crude will evsold to Dangote in Naira until October.

“Why was that broadcasting journalist behaving that spokesman of Tinubu and NNPCL? He is doing damages to both journalism and Nigerians by helping those who are depriving them of respectively doing their jobs and knowing the truth, respectively,” he said.