Dangote Responds to Misinformation from IPMAN and PETROAN Regarding Fuel Pricing
By DAYO ADESULU
Authorities of Dangote Refinery have issued a firm rebuttal to recent claims made by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Association of Nigeria (PETROAN), asserting that they can import Premium Motor Spirit (PMS) at lower prices than those offered by the Dangote Refinery.
In a statement released by Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote, emphasized that they benchmark their prices against international rates, believing that their pricing is competitive compared to imports.
Chiejina cautioned that any claims of cheaper PMS imports likely indicate the importation of substandard products, suggesting collusion with international traders to dump low-quality fuel into the Nigerian market. This practice poses risks to both public health and vehicle longevity, he warned.
Highlighting regulatory shortcomings, Chiejina pointed out that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) currently lacks laboratory facilities capable of detecting substandard products upon importation.
In the wake of deregulation, Dangote has set a pricing benchmark, initially selling PMS to domestic marketers at N971 per litre for marine sales and N990 per litre for truck sales. The Dangote Refinery has since reduced its marine pricing to N960 per litre while maintaining the truck price at N990 per litre, demonstrating a commitment to affordability even amid fluctuating exchange rates for crude purchases.
Chiejina also raised concerns about a recent development involving an international trading company that has secured a depot facility adjacent to the Dangote Refinery. This company aims to blend substandard products for market competition against Dangote’s higher-quality offerings, a move that he believes could undermine the growth of domestic refining in Nigeria.
Drawing parallels with protective measures taken by countries like the United States and those in Europe, Chiejina underscored the necessity for Nigeria to safeguard its domestic industries to foster job creation and economic growth.
In conclusion, Dangote Refinery remains committed to providing affordable, high-quality domestically refined petroleum products and urges the public to disregard disinformation propagated by entities that prefer to maintain the status quo of job exportation and poverty importation into Nigeria.
