Aliko Dangote, CEO of Dangote Refinery, has stated that the fuel purchased by the Nigerian National Petroleum Company (NNPC) from his refinery is 15% cheaper than imported fuel.
In a recent interview, Dangote clarified that while NNPC bought petrol from his facility at competitive rates, they also imported significant quantities of gasoline that were considerably more expensive. He criticized NNPC for not transparently disclosing the true costs associated with their imported fuel, suggesting that the pricing announced by NNPC did not accurately reflect the lower cost of domestically refined petrol from Dangote's facility.
Citations:
[1] https://businessday.ng/energy/article/dangote-refutes-fuel-price-concerns-says-refinerys-petrol-sold-below-import-cost/
[2] https://nairametrics.com/2024/09/24/we-sold-to-nnpc-at-a-lower-price-than-imported-petrol-aliko-dangote/
[3] https://www.thecable.ng/explainer-nnpc-vs-dangote-refinery-what-to-know-about-the-petrol-supply-deal/
[4] https://saharareporters.com/2024/09/24/fuel-nnpc-bought-our-refinery-15-cheaper-imported-ones-they-lied-about-pump-price
[5] https://www.bbc.com/pidgin/articles/cq6rd7e0pzmo
[6] https://www.cnbcafrica.com/2024/nigerias-nnpc-raises-petrol-prices-again-as-dangote-fuel-hits-market/
[7] https://www.thisdaylive.com/index.php/2024/09/24/dangote-nnpc-made-huge-mistake-by-reducing-stake-in-our-refinery-from-20-to-7-2/
[8] https://www.fastmarkets.com/insights/surging-exports-of-cheaper-chinese-steel-send-shockwaves-through-ferrous-markets/