MORE controversy has emerged in the execution of a sale-purchase deal on Premium Motor Spirit, PMS, otherwise known as petrol, between the Nigerian National Petroleum Company Limited, NNPCL, and Dangote Refinery.
According to media reports, while the NNPCL believes Dangote cannot supply an adequate quantity of the product, Dangote said it had already delivered 111 million litres of the product within three days, adding that loading was still ongoing steadily. NNPCL last weekend said Dangote could only deliver 16.8 million litres out of the 25 million litres it initially agreed with NNPC.
A source at the NNPCL also said, yesterday that the refinery is struggling to deliver the 16.8 million litres it promised. But with the latest delivery figure it disclosed, Dangote must have significantly surpassed its promised delivery as well as the national demand put at over 40 million litres per day.
Speaking on the development, the Group Chief Branding and Communications Officer of Dangote Refinery, Anthony Chiejina, stated: “We have already loaded 111 million litres of petrol and the exercise is ongoing.
“We are refining and have no reason not to load. So, loading is ongoing and we would continue to provide the product to the market.”
This implies a sudden excess supply of petrol barely a few days after the country was suffocated by an acute shortage of the product, resulting in a sharp rise in the price.