FG will not fix petrol price for Dangote Refinery- Source

The Federal Government will not fix the price for Dangote Refinery that is set to roll out Premium Motor Spirit any time from now.

This is contrary to the impression given by the President of Dangote Group, Alhaji Aliko Dangote when he met with journalists to present to the world samples of the company’s PMS.

Asked by journalists at the premises of the company how much Nigerians will pay for petrol from Dangote refinery, Alhaji Dangote said it’s the Federal Government that will fix the price.
“We are waiting for the Federal Government to do that. They are the one that will fix the price of Premium Motor Spirit,” he said.

But authoritative sources within the government and Nigeria National Petroleum Company Limited have given a lie to that position.

They alleged that it’s a smart defensive move by Dangote Reginery to blame everything on the government in the event that it rolls out at a price well above N1000 per litre, which is most likely to be the case.

One of the sources who spoke exclusively to WESTERN POST said: “The Federal Government or the NNPCL will not fix price for Dangote Refinery.

“Dangote Refinery will fix its own price. Under the agreement, NNPCL is to sell crude to Dangote Refinery in Naira. Dangote Refinery in turn will sell its product to Nigerians in Naira.

“It is a case of willing buyer and willing seller. NNPCL cannot fix prices for Dangote Refinery. NNPCL is not the regulator and cannot be under the Petroleum Industry Act.

“So it’s not correct to say the NNPCL will fix the price,” the source said.

Alhaji Dangote had said two days ago that the company’s product will hit the market within the next 48 hours which is today Thursday.