The Federal Government will not dabble in the ongoing controversy between the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery over petrol pricing, the presidency said.
Mr. Bayo Onanuga, media aide to the president explained that the Petroleum Industry Act (PIA) allows NNPCL to operate independently, despite being owned by the federal, state, and local governments.
Onanuga said private marketers who find NNPCL or Dangote’s prices too high can import fuel and sell it at a reasonable price, benefiting consumers.
He noted that this is made possible by the deregulated market, which ultimately benefits consumers if a price war starts.
“As far as this government is concerned, the PMS regime has been deregulated, Dangote is a private company. We should not forget that NNPCL is a limited liability company. Whatever controversy both of them are having is their problem.
“If you go by the terms of PIA, NNPCL operates as a limited liability company.
“The private marketers said if think they find the NNPCL or Dangote’s prices too much for them, they will resort to importing fuel because it’s a deregulated market.
“At the end of the day, it’s the consumer who benefits if a price war starts.
“If NNPC’s fuel is expensive, the private marketers can go to the market and bring in their fuel and sell at the price that they think is very reasonable and profitable for them.
“So my answer is that, as far as government is concerned, government is not dabbling in this controversy,” Onanuga said.
