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Our Petrol Prices are cheaper Than Prices Of Imported Ones, Says Dangote

‘If anyone claims they can land PMS at a price cheaper than ours, then they are likely importing substandard products and working with international traders to dump low-quality fuel in the country, without considering the health of Nigerians or the longevity of their vehicles.’

Siaka MOMOH

 Dangote Refinery says its petrol prices, at N960 per litre and N990 per litre for trucks, ships are cheaper than the prices of imported ones, stating that any petrol that is cheaper than the one it offers “is a substandard product”.

Said Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina, in a statement, on Sunday: “Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks.

“This set the benchmark for our pricing, and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.”

Dangote Refinery which was reacting to claims from oil marketers that imported fuel is priced lower than what it is offering however dismissed this claim suggesting that any cheaper imports are likely to be substandard ones.

“If anyone claims they can land PMS at a price cheaper than ours, then they are likely importing substandard products and working with international traders to dump low-quality fuel in the country, without considering the health of Nigerians or the longevity of their vehicles,” it added.

It further stated that the regulatory agency, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, lacks the laboratory facilities to properly assess imported fuel quality, potentially allowing substandard products to enter the market unchecked.

The refinery defended its pricing as being in line with global standards, emphasizing the need for Nigeria to support its local refining sector.

“Countries worldwide protect their domestic industries to promote job creation and economic growth,” the statement read, citing the examples of the U.S. and Europe imposing tariffs on electric vehicles and microchips to protect their industries.

The company reiterated that its pricing strategy is both competitive and aimed at ensuring the availability of high-quality, Nigerian-refined petrol.

“We commenced sales at these rates in good faith, even without full clarity on the exchange rate we would use to pay for crude purchases,” it noted.

Dangote stated further: “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 Dangote Refinery’s 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. For example, the 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 products 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.

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