November 15, (THEWILL) – Despite the operational commencement of the Dangote Refinery and other modular refineries in Nigeria, the country imported over 2.5 billion litres of petroleum products within a 40-day period, between October 1 and November 11, 2024.
Details of the imports showed that Nigeria brought in 1.5 million metric tonnes of Premium Motor Spirit, 414,018 metric tonnes of diesel, and 13,500 metric tonnes of aviation fuel.
This translates to approximately 2 billion litres of petrol, 500 million litres of diesel, and 17 million litres of jet fuel at a cumulative cost of nearly N3 trillion within the period.
This revelation comes amidst lingering concerns over the moribund state of the Nigerian National Petroleum Company Limited’s three refineries, which remain non-operational.
Meanwhile, the NNPCL, which has raised the price of petrol to over N1,000 per litre in recent months, continues to stress that economic viability dictates its sourcing decisions, whether from local refineries or through imports.
At the Nigerian Association of Petroleum Explorationists conference in Lagos, NNPCL’s Group Chief Executive Officer, Mele Kyari, stated, “NNPC does not import any product; we are sourcing entirely from domestic refineries.”
However, the NNPCL swiftly issued a rebuttal through its Chief Corporate Communications Officer, Femi Soneye, clarifying that Kyari’s comments had been misinterpreted by certain media reports.
According to Soneye, while Kyari’s statement was correctly quoted, the interpretation suggesting the end of fuel importation by the company was inaccurate.
“Economic viability remains the primary determinant of whether NNPC sources refined petroleum locally or through imports.
“If local supply is cost-effective, it will be preferred. However, this principle applies to other marketers as well, who must also consider total costs when deciding on sourcing options,” he said.
Soneye emphasised that the authority to grant import licenses rests with the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as mandated by the Petroleum Industry Act.
He also noted that the PIA limits NNPCL to controlling no more than 30% of the market, a measure designed to foster competition and prevent monopolistic practices.
In a detailed right-of-reply letter, Soneye criticised the misrepresentation of Kyari’s comments, describing it as a false narrative that could mislead the public.
“While your report quotes the GCEO’s exact words in several instances, you have inserted interpretations that misrepresent the context and meaning of the statement,” he said.
He urged media organisations to exercise greater care in reporting sensitive national issues, noting the potential damage caused by inaccuracies.
“Misleading narratives undermine public trust and the integrity of reputable newspapers,” Soneye stated.
Despite the controversy, Soneye commended accurate reporting on NNPCL’s investments in Compressed Natural Gas infrastructure, which forms part of its broader strategy for energy security and affordability.
He concluded by urging media houses to seek clarification when in doubt and prioritise accuracy in their reporting.
“A more cautious approach will benefit both your readership and the reputation of your publication,” he added.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
