The Nigerian National Petroleum Company Limited (NNPC Ltd) on Saturday said the national oil company is not the sole buyer of petroleum products from Dangote Refinery.

Responding to claims made by the Muslim Rights Concern (MURIC), which suggested that the NNPC is undermining the operations of Dangote Refinery Limited (DRL), in a statement signed by Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, the company said it cannot undermine a business in which it holds a billion-dollar stake.

MURIC alleged that recent changes in the pump price of Premium Motor Spirit (PMS) would prevent DRL from offering lower prices and that NNPC Ltd had become the sole offtaker of all refinery products.

NNPC said the pricing of petroleum products, including those from Dangote Refinery, is driven by global market forces.

The group noted that recent changes in PMS prices do not affect DRL or any other domestic refinery’s ability to operate in the Nigerian market, stressing that if prices are considered high, refineries like DRL have the opportunity to offer lower prices.

NNPC Ltd emphasized that domestic refining is not guaranteed to offer lower prices compared to global parity pricing.

It noted that the company would only offtake products from DRL if market prices are higher than Nigeria’s pump prices, adding that DRL and other domestic refineries could sell directly to marketers in a fully deregulated market, and NNPC Ltd has no intention of becoming the sole distributor for any refinery.

The statement said: “As an advocacy group for fair and just treatment, MURIC should have verified the facts before making statements that are entirely flawed and has the potential to incite ordinary Nigerians against the NNPC Ltd.”