*We Have Not Overstepped Our Boundary In Setting Petrol Price For Nigeria- NNPC
Hope of Nigeria to get cheaper and avoidable petroleum products dashed even with the emergence of Dangote refinery in Lagos.
Many Nigerians thought Dangote refinery will sell cheaper and affordable petrol product to them could not be realised.
Investigation by The National Press Newspaper indicates that many Nigerians have forgotten that Dangote is a businessman that making profits is his main goal of going to debts by borrowing money to finance his refinery in Lagos.
It would be recalled that recently, Alhaji Dangote, Chairman, Dangote refinery told newsmen in Abuja, when he paid a courtesy called on President Bola Tionubu that He (Dangote is a businessman that borrowed banks money with interest and his main objectives of the project is to make profits.
Meanwhile, the Nigeria National Petrtoleum Corporation, NNPC Ltd yesterday in a press released made available to this newspaper said: “The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that the Nigerian National Petroleum Company Limited (NNPCL) has not overstepped its authority in setting petrol prices within the country.
Farouk Ahmed, the Chief Executive Officer of NMDPRA, addressed the recent suggestions that the NNPCL had assumed control over a significant responsibility of the agency.
He said, “We try to restrain ourselves from needless controversy.
“But to put the record straight, the recent transaction between NNPCL and Dangote Refinery is strictly based on a willing buyer and a willing seller.
“But I know you will ask me that the supply is not sufficient in Nigeria, hence the high price. Of course, things would work fine when we have more players in the sector.
“But in a situation whereby some Nigerians expect us to regulate the price, it then means that the sector has not been deregulated; and it means we would continue to have problems.”
