Aliko Dangote, Chairman of Dangote Group, has claimed that the Nigerian National Petroleum Company Limited (NNPCL) misrepresented the price of fuel sourced from his refinery.
According to Dangote, the fuel purchased from his facility on September 15th was priced 15% lower than NNPCL’s imported fuel.
Dangote criticized NNPCL for lacking transparency in its pricing, attributing the inflated rates to the high costs incurred from importing fuel.
He explained, “NNPCL bought fuel from us on September 15th at the international price, and it was cheaper than their imported fuel, which cost 15-20% more. However, they failed to reflect this difference when announcing our price.”
He suggested that NNPCL might be balancing prices due to the higher cost of imports, or that they might be preparing to remove fuel subsidies, which would lead to price adjustments across the market.
