Financial analyst and educator Kalu Aja has refuted claims by some oil marketers suggesting that importing Premium Motor Spirit (PMS) is cheaper than sourcing from a local refinery. Aja contended that this could only be true if the importers were involved in crude oil theft, exporting stolen crude, and then re-importing the refined PMS to cover their tracks.
“There is no way you can import PMS back to Nigeria at a price lower than a local refinery refining local Nigerian crude oil. Unless you stole the crude oil from Nigeria, exported it, and are now importing PMS back to Nigeria to launder the theft,” Aja posted on X.
Aja’s statement follows a recent denial by Dangote Refinery against allegations that it’s selling PMS at prices between N1,015 and N1,028 per litre. Last week, the Independent Petroleum Marketers Association of Nigeria (IPMAN) claimed Dangote’s fuel prices exceeded those found elsewhere. IPMAN’s National Assistant Secretary, Yakubu Suleiman, shared these remarks on Arise Television’s Morning Show on Friday.
