Dangote, NNPC clash over petrol price

The Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery recently clashed over the pricing of petrol supplied by the refinery. NNPCL received its first shipment at N898 per litre, but Dangote claimed this price did not reflect their agreed pricing terms. Dangote explained that the price was set at N898 per litre because the crude oil used was imported and priced in dollars. Dangote criticized NNPCL’s statement as misleading and harmful, urging Nigerians to ignore it and wait for a formal pricing announcement from a technical committee starting October 1, 2024.

Additionally, Nigeria’s fuel shortage may persist due to a 38.8% shortfall in the initial delivery of petrol from Dangote Refinery. Although the refinery was supposed to deliver 25 million litres to NNPCL, only 16.8 million litres were provided. This comes amid reports from the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that domestic petrol consumption in Nigeria has decreased by 33.58% to 44.3 million litres per day.