Aliko Dangote has alleged that the Nigerian National Petroleum Company Limited refineries can only produce low-value premium motor spirit.
Dangote disclosed this in a recent interview with the media.
According to him, NNPCL does not have the capacity to compete with his 650,000-barrel-per-day refinery.
He noted that if there is no revenue in the country’s downstream oil sector, there would be no investment in the industry.
“If we don’t make money, nobody will come into this business. Then you end up with only one supplier because NNPC’s refineries can never ever compete because the market here is a gasoline market.
“When we produce, we have 54 per cent gasoline. NNPC, if they try, will achieve only 18 per cent. They will produce low-value fuel oil, which is not needed today, so it will be a loss. “The more they operate, the more money they make,” he said.
Dangote’s claims come as the Port Harcourt, Warri, and Kaduna refineries are currently shut down for maintenance and review.
The Group Chief Executive Officer of NNPCL, Bayo Ojulari, recently ruled out the sale of Nigerian refineries.
Earlier Dangote explained that he did not venture into fuel distribution because of fear of being called a monopoly.
This follows Dangote refinery’s face-off with the Nigeria Union of Petroleum and Natural Gas Workers over his drivers’ unionisation.
NUPENG had accused Dangote of monopoly over his recent rollout of the fuel distribution scheme. However, Dangote had dismissed NUPENG’s allegations.
Fuel Price: NNPCL produces low-value petrol – Aliko Dangote
