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Nigeria’s Presidency Clarifies Stance on NNPC-Dangote Refinery Price Dispute

The Nigerian Presidency has explained why it won’t intervene in the ongoing price dispute between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery. According to Senator Heineken Lokpobiri, Minister of Petroleum Resources, both entities are private and operate in a deregulated market.

Mr. Lokpobiri emphasized that the government doesn’t fix prices, and with sufficient product availability, prices will stabilize. He reassured Nigerians that there’s enough fuel to meet demand, urging them not to panic buy.

Special Adviser to the President, Bayo Onanuga, corroborated Mr. Lokpobiri’s stance, highlighting NNPCL’s autonomy under the Petroleum Industry Act. Mr. Onanuga noted that if consumers find NNPC or Dangote prices too high, they can import fuel and sell it at reasonable prices.

Government’s Alternative Energy Solution

Instead of intervening, the government plans to:

  • Promote Compressed Natural Gas (CNG) as a cheaper alternative
  • Subsidize vehicle conversion costs
  • Offer CNG at approximately N230 per litre equivalent, significantly lower than PMS at N850 per litre

By supporting alternative energy solutions, the government aims to provide consumers with more affordable options and reduce reliance on traditional fossil fuels

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