The Executive Director of the Centre for the Promotion of Private Enterprise, Muda Yusuf, has said that the Nigerian National Petroleum Company Limited is frustrating Dangote Refinery with its recent petrol price hikes to sustain petrol importation in Nigeria.
Yusuf disclosed this on Tuesday during an interview with Channels Television monitored by DAILY POST.
He was reacting to the latest disagreement between NNPC and Dangote Refinery over the latter’s pricing.
Recall that NNPC announced that Dangote sold petrol to them at N898 per litre.
However, Dangote Refinery faulted NNPC.
This comes as the NNPC on Monday announced a fresh petrol price hike in its retail outlets upon the supply of Dangote Refinery.
Reacting to Yusuf, he alleged that there seems to be a tendency orchestrated by the NNPC to frustrate Dangote Refinery.
He stressed that he is worried about the dramatization of Dangote Refinery’s pricing by NNPC.
Yusuf, who was the former Director General of Lagos Chambers of Commerce and Industry (LCCI), said the recent waves of petrol price increases are impressive because the product is bought from Dangote Refinery, whereas it is due to overstretched pressure of fuel subsidy.
He added that the cost of Dangote Refinery’s petrol can’t be more expensive than imported products in terms of landing cost.
“Because it is apparent that a lot of people are benefiting from petrol importation.
“Such people are not excited about the domestic commencement of petrol in Dangote Refinery.
“So we need the political commitment to end petrol importation. If we want to transform the economy, we need to move as quickly as we can to domesticate or localize transactions. The number one case is petroleum products.
“I am not too comfortable with the rhetoric between NNPC and Dangote Refinery.
“There seems to be a tendency to give a dog a bad name to hang it. I am worried about the dramatization of the price NNPC bought Dangote petrol. When did NNPC start telling us how much they bought petroleum products? They have been importing. How many times have they told us that this is where we bought imported fuel from, the cost and the price? They are now buying from Dangote Refinery and have started giving all sorts of statistics.
“It gives the impression that the current wave of petrol increases is because you are buying from Dangote Refinery, whereas the bigger issue is that NNPC and the government are overstretched by the pressure of subsidizing petrol products. If you want to walk away from the subsidy, you have to make the announcement. You cannot tell us that buying from Dangote Refinery is costlier than the one imported in terms of landing cost. It is not possible,” he stated.
NNPC frustrating Dangote Refinery with recent Fuel Price Hikes – Muda Yusuf
