The summary of the whole shenanigans going in Nigeria between the FG(NNPC) and Dangote Refinery is that.
1. NNPC has not, and cannot refinr crude to sell to Nigerians, so they will have to import refined crude.
2. If Dangote refines it's product and wants to sell locally, the price will be less than N600/ litre _(it should be around N400)._
3. If Dangote sells below N600 and NNPC imports and sell above N600, no Marketer will buy from NNPC at a higher cost. So technically NNPC will be out of business and die a Natural death.
4. With recent acquisitions of Agip by Oando and the furtherance of an arm of Oando (OVH) becoming the sole controller of NNPC retail business, a lot of personal "vested interests" are at stake in the NNPC business. If you know much about Oando, you would understand my angle.
5. To safeguard NNPC interests, the govt moved to muscle and bully Dangote. First they raided Dangote Refinery accusing him of FX launderig. Then they denied him crude for his refinery, to the extent Dangote started buying crude from the US. They later came up with allegations that Dangote Refinery products were sub standard. You all know the other allegations and fights to cripple the refinery.
6. Then, when the bullying was getting too much, Dangote started talking and exposing them. We heard of the Malta refinery and the crude round tripping going on etc.
7. They changed tactics and bullied him not to make public the price he intends to sell his products.
8. The govt now forces Dangote not to sell refined products directly to Marketers and he should allow NNPC to be the only Off-taker of PMS from Dangote.
9. Dangote is not allowed to announce his price to the public, he is not allowed to sell to Marketers directly- he is technically caged.
10. The FG goes ahead to jack up price of PMS two days to Dangote Refinery selling PMS. It was a perfect plot to get Dangote to sell the product at a higher price than it should (which will give NNPC a window of profit margin when they eventually import fuel). Consumers' interets were sacrificed on the altar of NNPC incompetence and corruption.
10. NNPC and the FG failed to sell crude to Dangote in Naira as they agreed, and Dangote threatened to sell the refined crude to export market in Dollars since he can't buy crude in dollars from the govt and turn around to sell refined crude in Naira to same govt. This led to the back and forths and postponement of lifting of PMS from the refinery.
11. The imbroglio between Dangote and the FG have not been clearly ironed out as we speak hence the discrepancies in pricing and other issues.
The truth Remains that NNPC and the FG have not been forthcoming with the truth.
Why is it that we can't get efficiency or even the slight truth from the NNPC over the years?
Nigerians will be shocked as things unfold in the coming days.
Anonymous
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