PREMIUM TIMES
The Nigerian National Petroleum Company Limited (NNPC Ltd) on Sunday said it bought petrol from Dangote refinery at N898 per litre.
Olufemi Soneye, the chief corporate communications officer of the company, disclosed this to PREMIUM TIMES in an interview on Sunday evening.
Mr Soneye emphasised that market forces determine domestic pump prices.
“What you need to understand is that it’s market forces that determine the price. For instance, now Brent is $70 let’s say tomorrow now, Brent goes to $80, you should note that the price will also increase because those are the market forces.
“But today, for this initial 16.8 million litre that was given to us, it was at the rate of N898,” Mr Soneye told PREMIUM TIMES.
Earlier in the month, Devakumar Edwin, vice president at Dangote Industries Limited, said the 650,000 barrels per day Dangote Refinery has begun the processing of petrol.
Mr Edwin explained that the NNPC Limited would buy its product exclusively.
