The Dangote Refinery has stated that its product prices are competitive, asserting that anyone importing petrol at lower prices is likely bringing in substandard fuel.
In a statement released on Sunday, Anthony Chiejina, the Group Chief of Branding and Communications at Dangote Refinery, criticized claims from the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).
Both organizations contended that they could import Premium Motor Spirit (PMS) at prices lower than those offered by Dangote Refinery.
Chiejina emphasized that the refinery benchmarks its prices against international standards and believes its pricing is competitive compared to imports.
He stated, “If anyone claims they can obtain PMS at a lower price than what we offer, then they are likely importing substandard products and colluding with international traders to introduce low-quality fuel into the country, showing disregard for the health of Nigerians and the longevity of their vehicles.
Unfortunately, the National Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) lacks laboratory facilities to detect substandard products upon importation.”
Chiejina noted that the Nigerian National Petroleum Corporation (NNPC) has set the pricing standard by selling PMS to domestic marketers at N971 per litre for shipments and N990 for truck deliveries.
The Dangote Refinery has undercut these prices, selling at N960 per litre for shipments while keeping truck prices at N990 per litre.
He added, “In good faith and for the country’s interest, we initiated sales at these prices without clarity on the exchange rate used for crude purchases.
Additionally, an international trading company has recently rented a depot near Dangote Refinery, intending to blend substandard products to compete with the higher-quality production from Dangote.”
