The Nigerian National Petroleum Company Limited (NNPC) has denied accusations made by the Muslim Rights Concern (MURIC) that it is monopolizing products from Dangote Refinery Limited (DRL). In a statement issued on Saturday by Chief Corporate Communications Officer Olufemi Soneye, the NNPC clarified that it does not have exclusive rights to purchase products from DRL and emphasized that Nigeria’s petroleum market remains open for competition.
NNPC explained that pricing for products from DRL and other refineries is dictated by global market forces, and current high prices create an opportunity for local refineries to offer competitive rates. The company stressed that DRL and any other refinery are free to sell to marketers on a “willing buyer, willing seller” basis, dismissing claims of being the sole offtaker of DRL’s products.
NNPC further refuted any intentions of undermining DRL, highlighting its billion-dollar investment in the refinery and its commitment to transparency and competition in the market. The company also urged MURIC to verify facts before making potentially inflammatory statements.
