The Nigerian National Petroleum Company Limited (NNPCL) has dismissed claims that the newly commissioned Dangote Refinery would sell petrol at a cheaper price when it commences full operations at the end of July.
Speaking on ChannelsTV on Thursday, the NNPCL’s Group chief executive officer, Mele Kyari, noted that Dangote Refinery will only boost local production of petrol and not reduce the pump price.
Kyari disclosed that the Port-Harcourt Refinery is expected to begin operations the end of the year, adding that the facility will further boost local production of petrol.
“There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price,” Kyari clarified.
“There will also be no subsidy when local production starts because there is no cash-to-back subsidy, this country no longer has the resources to continue with subsidy,” he added.
The NNPC boss disclosed that a total of 1.8 billion litres of petrol are available, adding that the fuel queues being witnessed across the country will not exceed Saturday, June 3.
He confirmed the authenticity of viral PMS pricing document for various states.
