The Nigerian National Petroleum Company Limited (NNPCL) is still importing premium motor spirit (PMS), also known as petrol and Automotive Gas Oil (AGO), also known as diesel, despite Dangote Refinery having a sufficient supply.
NNPC imported a 1,846,548.202 million metric tonnes of diesel and petrol between October 1 and November 11, 2024.
This importation was facilitated through numerous petroleum marketers across the country, with Pinnacle Oil leading the pack.
Dangote Refinery has reportedly been producing AGO and Jet-A1 in excess of Nigeria’s daily consumption, yet NNPCL continues to issue import licenses to other companies.
This has led Dangote Refinery to seek legal action, asking the Federal High Court to void import licenses issued to NNPCL, Matrix Petroleum Services Limited, and four other companies.
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Meanwhile, a source who spoke to SaharaReporters on Sunday said the marketers are bringing in the products to continue “their $200 million per month racket”.
“I asked whether the fuel is subsidized since that would be the only way they could offer a lower or equal price to Dangote,” the source said, adding that they were “told they can match or sell at lower price because the imports are off spec, blended and substandard”.
According to the source, the NNPC is able to do this and get away with it because the state-owned oil company owns the “checking facilities so they can provide any quality certificates they want.”
Efforts to reach Olufemi Soneye, NNPC spokesperson, for clarification on the ongoing importation of petroleum products despite Dangote Petroleum Refinery’s surplus, were unsuccessful.
Unfortunately, Mr. Soneye was unreachable by phone, and a text message sent to his number bounced back as undeliverable, indicating it was unreachable.
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