The Dangote Refinery has warned Nigerians that any imported cheaper petrol than theirs is substandard
Dangote issued this warning on Sunday night in a statement signed by Group Chief Branding and Communications Officer, Anthony Chiejina, saying that the company had lately refrained from engaging in media fights but was 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,” Chiejina said.
“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.
“Unfortunately, the regulator (NMDPRA) does not even have laboratory facilities which can be used to detect substandard products when imported into the country.”
Chiejina said that post deregulation, NNPC set the pace by selling petrol to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks.
He added that this set the benchmark for Dangote’s pricing, and they have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.
In good faith, and in the interest of the country, he said Dangote commenced sales at these prices without clarity on the exchange rate that they will use to pay for the crude purchased.
Chiejina explained that at the same time, an international trading company has recently hired a depot facility next to the Dangote Refinery, with the objective of using it to blend substandard products that will be dumped into the market to compete with their own higher quality production.
“This is detrimental to the growth of domestic refining in Nigeria. We should point out that it is not unusual for countries to protect their domestic industries in order to provide jobs and grow the economy,” he warned.
He said for example, the United States (US) and Europe have had to impose high tariffs on EVs and microchips in order to protect their domestic industries.
“While we continue with our determination to provide affordable, good quality, domestically refined petroleum product in Nigeria, we call on the public to disregard the deliberate disinformation being circulated by agents of people who prefer for us to continue to export jobs and import poverty,” Chiejina said.
