The management of Dangote Refinery has responded to claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) regarding high fuel prices. The refinery maintains that its pricing strategy is competitive and aligns with international standards.
In a statement released by Group Chief Branding and Communications Officer Anthony Chiejina, Dangote Refinery suggested that IPMAN and PETROAN’s claims of being able to import cheaper petroleum products indicate the importation of substandard goods.
The statement reads:
“We had lately refrained from engaging in media fights but we are constrained to respond to the recent misinformation being circulated by IPMAN, PETROAN, and other associations. Both organisations claim that they can import PMS at lower prices than what is being sold by the Dangote Refinery.”
“We benchmark our prices against international prices and we believe our prices are competitive relative to the price of imports.”
“If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products and conniving with international traders to dump low quality products into the country, without concern for the health of Nigerians or the longevity of their vehicles.”
Chiejina further highlighted the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) lack of laboratory facilities to detect substandard imports.
Dangote Refinery has already adjusted its Premium Motor Spirit (PMS) prices to N960 per liter for ship sales and N990 per liter for truck sales, which are reportedly lower than NNPC’s set prices. The statement explains, “In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.”
The company also expressed concern about an international trading company acquiring a depot near the refinery for potential blending and selling of substandard products. Chiejina stated, “This is detrimental to the growth of domestic refining in Nigeria.” He advocated for protective measures similar to those employed in the US and Europe to safeguard domestic industries.
Dangote Refinery concluded by urging Nigerians to disregard “deliberate disinformation” and support the company’s efforts to provide affordable, high-quality, domestically refined petroleum products.
