The federal government has officially distanced itself from the ongoing controversy between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery regarding petrol pricing.
Speaking in Abuja, President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, clarified that the petroleum market is now fully deregulated, meaning both Dangote and NNPCL, as private oil refiners, are free to set their prices. He stressed that the government would not intervene in the dispute.
“The PMS price regime has been deregulated. Dangote is a private company, and NNPCL is a limited liability company,” Onanuga stated. “Any controversy between them is their problem.”
The dispute arose after NNPCL announced that Dangote Refinery sold petrol to them at ₦898 per litre, a claim Dangote disputed, stating that the price was lower than that of imported fuel.
Despite expectations that government involvement could lower petrol prices, Onanuga reiterated that market forces will dictate pricing. He also noted that private marketers who find the prices from NNPCL or Dangote too high are free to import their own fuel and set competitive prices.
