The Dangote Refinery has stated that its product prices are competitive, and any claims of lower prices from other importers are likely due to the sale of substandard products. In a recent statement, Anthony Chiejina, Group Chief of Branding and Communications, disputed claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN). “We benchmark our prices against international prices and believe they are competitive relative to imported products,” he said. “If anyone claims to be selling at a lower price, they are likely importing substandard products and collaborating with international traders to dump low-quality products into the country, disregarding the health and safety of Nigerians and the longevity of their vehicles.” Chiejina also noted that the National Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) lacks laboratory facilities to detect substandard products. The NNPC has set a benchmark price of N971 per liter for PMS sold to domestic marketers for ships and N990 per liter for trucks. Dangote Refinery has matched this price, selling at N960 per liter for ships and N990 per liter for trucks. However, an international trading company has recently leased a depot facility next to the refinery to blend substandard products, which could be sold in the market to compete with Dangote’s higher-quality production.
