₦airaland Forum

Presidency Speaks on Moves to Reduce Fuel Prices Amid NNPC, Local Refinery Dispute

The Federal Government has distanced itself from the ongoing controversy between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery over petrol pricing.

POLITICS NIGERIA understands that there are expectations from some quarters that involvement by the government would lead to a reduced price of the commodity.

President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, made the fresh declaration while briefing State House correspondents in Abuja.

Onanuga clarified that since the petroleum market has been deregulated, both Dangote and NNPCL, as oil refiners and marketers, are free to set their market prices.

“The PMS price regime has been deregulated. Dangote is a private company. NNPCL, you should not forget, is a limited liability company,” Onanuga stated. “Whatever controversy both of them are having is their own problem.”


The controversy began when NNPCL announced that Dangote Refinery sold petrol to them at N898 per litre. However, Dangote countered that the price was misleading and that his refinery sold petrol to NNPCL at a lower rate than the cost of imported fuel.

Aliko Dangote, CEO of Dangote Refinery eventually added recently that the removal of subsidy is totally dependent on the government, not on his company.

The lowest pump price of petrol currently stands at N895 per litre.

Onanuga reiterated that the government will not interfere in the dispute, allowing both parties to operate according to market forces. “You can see that the private marketers have said that they find the NNPC or Dangote price too much for them, and they may resort to importing fuel.”

“If NNPC fuel is too much, the public market can go to the market and bring in their own fuel and sell at the price that they think is very reasonable and profitable for them,” Onanuga noted.

Source : https://politicsnigeria.com/breaking-presidency-speaks-on-moves-to-reduce-fuel-prices-amid-nnpc-local-refinery-dispute/

NNPCL keep importing, while Dangote should export to African countries.

Is tinubu not the minister of petroleum?He has been receiving salaries,subsidy fraud and kickbacks as a petroleum minister because of his refinery in malta and abandoned nigerians to suffer for high cost of fuel.

What about the present reality of a bag of rice being above 100k
And increment in cost of other goods and services...

Who's gonna distance themselves

Joke

Damnnn niggar

Federal government is full of shit

Make we no lie, we no get government.

Please who is FG who is NNPC? Someone should explain this to me because I am still confused on this.

Difference between nnpcl and federal government abeg, No be federal government own Nnpc? Who is the minister for petroleum?

Onanuga is a fool. An issue that affects the very lifeline of the country and the idiot is saying it is their business? Is there a pandemic of stupidity in Tinubu's administration?

You all making the country unliveable are insane!
Blame game never stops!
Who are NNPCL but the untouchable ones who want to run the country aground except everything goes their ways? Then the most incompetent one sitting in Ask Rock, Minister of Petroleum, making Buhari look like a great leader because of his own grand inanity.

May God help those still in that land!

This is the way to go.

I said it that Bayo should never be allowed to release statements for Tinubu, he's crude as a tout. "Whatever issues they are having us their own problem" what sort of Presidential spokeman talk like that.

The way things are going, nothing good can come out of this APC and useless government.

This the most foolish response I have heard from a presidential spokesperson. Tinubu cannot distance or isolate himself from the issues between Dangote and NNPCL because he is the petroleum Minister.
This issue is his primary jurisdiction.

He should relinquish himself as the petroleum Minister and get somebody competent enough to handle those issues properly

Agbado miscreants have you seen you have a very unserious government? We are clearly living in fools paradise. After all these nonsense then you will tell me to be patient tinubu is fixing it.

Just like saying "the firewood distances itself from the flames and the smoke."


This Dangote case shows you how those in the central government never want a better Nigeria unless the betterment passes through them in a lion's share...and they don't mind if the dregs go to the peasants.

The Idi Amin of Nigeria will be in the history book undoubtedly! His greed will consume him!

This fight no be local...

FG self won comot hand

Afrowits:
Please who is FG who is NNPC? Someone should explain this to me because I am still confused on this.

NNPCL


Google is your friend

Lol

The Federal government should go to court If the Problem is too much for Tinubu. He is in Charge of the Petroleum and Gas Ministry, he can't go away now

How can u distance yourself from such an important issue.... If it has been deregulated.... Then why is nnpc only allowed to buy from Dangote? Una think say we senseless arbi?

Ogun kill nna, who is nnpcl and who is fg

The FG Is still paying NNPC a subsidy. Because at the end of the day, if they did not pay a subsidy, dangote fuel would beat out imported fuel.

Here is the thing...dangote fuel costs around 800 or so naira out of the refinery. Imported fuel costs around 1200 Landing cost. Dangote can do 25 million liters of PMS a day, we need at least 60 million.

So, if subsidy went, fuel would cost at least N1100 per liter, if not more, with imported fuel being more expensive.

The government does not want that to happen as it means they get voted out in 2027, so they continue paying subsidy while lying to Nigerians

At the end, here we are.

MODIFIED

Another thing is that with subsidy gone, someone who buys from Dangote would sell fuel at a cheaper rate than someone who buys from the imported route.

That could force independent marketers who sell imported fuel forcing their prices down to meet those selling domestic fuel....and losing big money as a result.

Therein lies another part of the problem

Again government subsides make it difficult to compete with NNPC

The government is not involved in the price of petrol, let the NNPC and Dangote settle their differences.

The consumers will benefit from this tussle

Good news all the way