Would you like to receive notifications on latest updates of the following headlines?

Dangote Refinery to NNPCL: your claims mischievous, we're not selling petrol at N898

POSTED ON September 16, 2024 •   BREAKING NEWS      BY Abiodun Saheed Omodara
The Dangote Refinery was commissioned in May 2023. l Credit: @Engr_Abdulmalik

The Dangote Refinery has denied selling petrol to the Nigerian National Petroleum Company Limited (NNPCL) at N898 per litre, describing the claim as "misleading and mischievous". 

The refinery spokesman stated that the NNPCL's statement is aimed at undermining the milestone achievement towards addressing energy insufficiency and insecurity in the country.

The spokesman urged Nigerians to disregard the "malicious statement" and await a formal announcement on the pricing, which will commence on October 1, 2024, considering that the current stock of crude was procured in dollars.

"The products were sold to NNPCL in dollars, resulting in significant savings compared to their current import costs. This will ensure the availability of petrol in every local government area, even in remote locations," the oil firm stated.

The NNPCL started loading the first batch of petrol from the Dangote Refinery on Sunday.

Last December, Dangote, Africa's leading industrialist, commenced operations at his $20bn facility located in Lagos with a capacity of 350,000 barrels per day.

The refinery, which faced regulatory challenges initially, aims to reach its full capacity of 650,000 barrels per day by the end of the year.

The refinery has commenced the supply of diesel, aviation fuel, and now petrol to marketers across the country.

Nigeria, Africa's most populous nation, faces energy challenges, with all its state-owned refineries being non-operational.

The country heavily relies on imported refined petroleum products, with the state-run NNPC being the major importer of these essential commodities.

Fuel queues are commonplace in the country, and the prices of petrol have tripled since the removal of the subsidy in May 2023, from around ₦200/litre to about ₦1000/litre, exacerbating the difficulties faced by citizens who power their vehicles and generators with petrol, due to the long-standing unreliable electricity supply.

READ ALSO
South-West Demands Five New States and Constitutional Recognition for Traditional Rulers in Ongoing Constitutional Review
BY Abiodun Saheed Omodara July 4, 2025 0

The demand for the establishment of five new states, the recognition of traditional rulers in the co...

READ ALSO
Federal High Court Orders Reinstatement of  Natasha Akpoti-Uduaghan, Calls Suspension "Excessive"
BY Abiodun Saheed Omodara July 4, 2025 0

A Federal High Court in Abuja ruled on Friday that the Nigerian Senate exceeded its authority by sus...

READ ALSO
Calls for Autopsy: Ondo Govt. Faces Pressure to Exhume Late Governor Akeredolu's Body
BY Abiodun Saheed Omodara June 30, 2025 0

The Ondo State Government may need to exhume the body of the late governor, Oluwarotimi Akeredolu, f...

READ ALSO
Tinubu to Discuss Sustainable Governance at BRICS Summit in Rio
BY Abiodun Saheed Omodara June 29, 2025 0

President Bola Tinubu arrived in Vieux Fort, Saint Lucia, on Saturday for the first leg of his two-p...

READ ALSO
Reps Launches Committee to Review CNG Policy Implementation
BY Abiodun Saheed Omodara June 27, 2025 0

The House of Representatives has formed an ad-hoc committee tasked with examining the Federal Govern...

READ ALSO
Nigeria Takes Bold Step towards Energy Independence with Naira-Based Crude Sales Initiative
BY Abiodun Saheed Omodara June 25, 2025 0

The Nigeria Export Processing Zones Authority, alongside the Federal Government’s One-Stop-Sho...

READ ALSO
IPMAN Links Rising Petrol Prices to Crude Oil Costs and Market Dynamics
BY Abiodun Saheed Omodara June 24, 2025 0

ABUJA, Nigeria (NAN) - The Public Relations Officer of the Independent Petroleum Marketers Associati...

READ ALSO
Tinubu Launches National Mechanised Farming Programme to Tackle Food Insecurity
BY Abiodun Saheed Omodara June 23, 2025 0

In a bid to combat food insecurity and encourage youth participation in farming, President Bola Tinu...

OUR CHANNELS:

Ex-D’Tigers coach Brown sets goals for new job
BY Abiodun Saheed Omodara July 9, 2025 0

The former head coach of the Nigerian men's national basketball team, D'Tigers,Mike Brown,has s...


U.S. Reduces Visa Duration for Nigerians to Three Months
BY Abiodun Saheed Omodara July 10, 2025 0

The U.S. Department of State has changed its five-year visa policy for Nigerians applying for non-im...


JAMB Sets 2024 Cut-Off Marks for Tertiary Institutions
BY Abiodun Saheed Omodara July 10, 2025 0

The Joint Admissions Matriculation Board announced the admission cut-off marks for universities, pol...


Federal Government Launches Exclusive Passport Office for Senior Officials
BY Abiodun Saheed Omodara July 10, 2025 0

ABUJA, Nigeria - The federal government on Tuesday, inaugurated a new passport front office in Abuja...


African Democratic Congress Claims Government Coercion to Weaken Opposition Coalition
BY Abiodun Saheed Omodara July 9, 2025 0

The African Democratic Congress (ADC) has accused President Bola Tinubu’s administration of ta...


FG Urges Judiciary to Strengthen Capital Market for Economic Growth
BY Abiodun Saheed Omodara July 9, 2025 0

The Federal Government has called on the judiciary to take a proactive role in strengthening the cap...


Reinventing Nigeria’s Fiscal Framework: A Call for Unity and Responsibility
BY Abiodun Saheed Omodara July 10, 2025 0

President Bola Tinubu has emphasized his government's dedication to allocating sufficient resources...


CBN Mandates Capital Restoration Plans for Banks: A Step Towards Regulatory Compliance
BY Abiodun Saheed Omodara July 8, 2025 0

The Central Bank of Nigeria has instructed banks to provide a capital restoration plan as part of it...


Nigeria Faces Teacher Shortage: Over 31 Million Learners Rely on Just 915,913 Educators
BY Abiodun Saheed Omodara July 11, 2025 0

According to data from the Universal Basic Education, only 915,913 teachers are available for at lea...


Tinubu Calls for Equitable Global Framework at BRICS Summit
BY Abiodun Saheed Omodara July 10, 2025 0

President Bola Tinubu has advocated for a more equitable global framework regarding climate action,...


More Articles

Load more...

Menu