The Nigeria National Petroleum Company Ltd (NNPCL) has said there is no lower price guarantee as it begins lifting petrol from the Dangote refinery on September 15.

In a statement released by its spokesman, Olufemi Soneye on Saturday, September 7, the company said the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd, is determined by global market forces. According to Soneye, there is no guarantee of lower prices associated with domestic refining of the products in the country.

“The pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces,” he said.

Soneye’s response comes amid rumors that the company is attempting to monopolize the offtake of all products from the Dangote Refinery Ltd.

“The attention of the NNPC Ltd has been drawn to a press release by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the Nigerian National Petroleum Company Limited (NNPC Ltd).

Specifically, MURIC asserts that recent changes to the pump price of Premium Motor Spirit (PMS) will prevent the Dangote Refinery from offering lower prices and that NNPC Ltd. has become the sole off-taker of all products from the refinery,” he said