Dangote Refinery Denies Fixing petrol Price at N897 per Litre, Says Contract with NNPC Not Finalized

… As Dangote group cautions against misinformation

Dangote Group has reacted to a report claiming that its refinery will sell Premium Motor Spirit, PMS commonly known as petrol at the rate of N897 per litre.

In a statement that was released on the official X handle of Dangote Group on Thursday, it was stated that the price of petrol has not been fixed. Dangote Group claimed that it is yet to finalize contract with the Nigerian National Petroleum Corporation, NNPC.

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”.