Well, here we go again. Nigerians waiting for the mythical cheaper petrol while NNPCL casually throws very cold water on their hopes. The Nigerian National Petroleum Company Limited (NNPCL), declared on Saturday that there’s absolutely no promise of lower petrol prices, even as they’re about to start lifting products from the much-hyped Dangote Refinery. The dream of cheap, locally refined petrol remains just a dream.
What They Are saying
NNPCL announced that they’ll start lifting petrol from Dangote’s billion-dollar refinery on September 15. But, before anyone gets too excited, Olufemi Soneye, the company’s spokesman, kindly reminded us all that the price of petroleum products isn’t just some arbitrary number they control, No, it’s dictated by the “global market forces”
As Soneye, NNPCL’s Chief Corporate Communications Officer, put it, “There’s no guarantee of lower prices even if we refine the petrol here.” Lovely.
Rumors had been swirling around, suggesting that NNPCL was trying to monopolize the Dangote Refinery’s products. Surprise, surprise. Nigerians are used to monopolies in just about every sector that matters, so why should oil be any different? The Muslim Rights Concern (MURIC) had accused NNPCL of setting things up so that the Dangote Refinery wouldn’t be able to offer lower petrol prices to Nigerians. Instead, MURIC alleged, NNPCL has made sure it’s the sole buyer of all products from the refinery.
Soneye, of course, had to respond to that too, stating that the NNPCL has no such sinister plot. He explained that recent changes to the pump price of Premium Motor Spirit (PMS) have absolutely nothing to do with blocking Dangote from giving Nigerians the lower prices they so desperately crave. And as for NNPCL monopolizing all of Dangote’s products? According to Soneye, that’s just wild speculation.
“The attention of the NNPC Ltd has been drawn to a press release by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the Nigerian National Petroleum Company Limited (NNPC Ltd).
“Specifically, MURIC asserts that recent changes to the pump price of Premium Motor Spirit (PMS) will prevent the Dangote Refinery from offering lower prices and that NNPC Ltd. has become the sole offtaker of all products from the refinery,” he stated
Why It Matters
So, while Nigerians continue to wrestle with high fuel prices, NNPCL, with a straight face, tells us that “global market forces” are to blame. Apparently, it doesn’t matter if we’re refining the fuel locally or importing it from Mars or pluto, those global forces are always ready to keep the price up. And while NNPCL insists they aren’t monopolizing Dangote’s output.
It seems Nigerians are being served another helping of “wait and see.” After all, promises of better prices have been dangled in front of us for years, only to be snatched away at the last minute.
Whether Dangote’s refinery can actually change the game or if it’ll be business as usual well, that remains to be seen. But for now, it looks like affordable petrol will remain just a dream.
Bottom Line
In the end, it’s the same old story. The government and its agencies will tell us everything is out of their hands, that the big, bad global market forces are the real culprits, while Nigerians continue to suffer under the weight of rising fuel costs. Monopolies, lack of competition, and a refusal to admit the real problems? That’s the Nigerian way.
