*Dangote Petroleum Refinery says the company sells the Premium Motor Spirit, also known as petrol, for N960 per litre into ships while maintaining N990 per litre for sale into trucks, restating its determination to provide affordable, good quality, domestically refined petroleum products for Nigerian consumers

Gbenga Kayode | 绿帽献妻

The Management of Dangote Petroleum Refinery and Petrochemicals Company Limited, Lagos, has disclosed the company sells the Premium Motor Spirit (PMS), also known as petrol, for N960 per litre into ships while maintaining N990 per litre for sale into trucks.

The company stated the Management revealed its product prices for ships and tricks in regard to certain claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), that they could import PMS at lower prices than what is being sold by the Dangote Petroleum Refinery.

Mr. Anthony Chiejina, Group Chief Branding and Communications Officer at Dangote Group, who said this in a statement issued late Sunday, November 3, 2024, however, noted: 鈥淲e had lately refrained from engaging in media fights, but we are constrained to respond to the recent misinformation being circulated by IPMAN, PETROAN, and other associations.

鈥淏oth organisations claim that they can import PMS at lower prices than what is being sold by the Dangote Refinery.鈥�

Chiejina stated: 鈥淲e benchmark our prices against international prices, and we believe our prices are competitive relative to the price of imports.

鈥淚f 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.鈥�

The Management of the oil-refining plant said: 鈥淯nfortunately, the regulator (NMDPRA) does not even have laboratory facilities, which can be used to detect substandard products when imported into the country.

鈥淧ost-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.

鈥淭his 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.鈥�

Dangote Refinery further stated: In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.鈥�

Consumers demand 鈥榯ransparency, openness鈥� on Dangote鈥檚 PMS price template

绿帽献妻 reports that scores of Nigerian energy consumers earlier had slammed Dangote Refinery for the company鈥檚 purported refusal to reveal its Premium Motor Spirit (Petrol) price months after the company began fuel distribution.

The concerned consumers, who made the criticisms against Dangote Group at the weekend, also demanded 鈥渢ransparency and openness鈥� on the refinery鈥檚 fuel price template in the Nigerian economy.

@Olurunwababs on X had stated: 鈥淚t is laughable to debunk a claim as fake, then refuse to disclose how much it is to buy from Dangote Refinery!

鈥淒angote Refinery should be transparent about its fuel price.

鈥淲hat DR needs to do is tell us how much they sell fuel. That way, we will have a full picture of what is going on!鈥�

Also, @Abdul_A_Bello, an energy consumers wrote: 鈥淛ust tell us how much you are selling from your depot.

Abba Audi @Abbaaudu equally stated: 鈥淒angote鈥檚 reluctance to publicly disclose the price of his petroleum products raises questions.

鈥淚f his refinery produces at a lower cost, why not transparently announce prices to attract local buyers and reduce imports?

鈥淭he secrecy fuels speculation about potential market dominance or unseen factors at play.

鈥淛ust tell us the price! A simple and straightforward question.鈥�

The company, via its verified official X account, subsequently denied the earlier claim by oil marketers, that Dangote PMS is sold between N1,115 and N1,028 per litre.

Yakubu Suleiman, National Assistant Secretary of IPMAN Friday, November 1, during an interview with Arise TV, also stated that the price of petrol from the Dangote Refinery was higher than alternative sources, including imported products.

Suleiman claimed that the Dangote petrol price is between N1,115 and N1,028 per litre.

However, Dangote Group, in its reaction via the social media platform described petrol marketers鈥� claims flying around as 鈥榝ake news鈥�.

Dangote alleges location of an oil depot for blending substandard products in Lagos

Dangote Refinery, in the statement Sunday also purported that an unnamed international trading company has hired a depot facility next to it with a view to blending substandard products to be dumped into the Nigerian market to compete with Dangote Refinery’s higher-quality production.

The Management of the company stated: 鈥淎n 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.

鈥淭his 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.鈥�

It as well cited an example, that the US and Europe have had to impose high tariffs on Electric Vehicles (EVs) and microchips in order to protect their domestic industries.

鈥淲hile 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,鈥� the Group Chief Branding and Communications Officer said.

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