Dangote Refinery has announced its petrol prices, selling at N990 per litre for truck deliveries and N960 per litre for shipments. This disclosure comes in response to claims from the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), who allege they can import petrol at lower rates than those set by the refinery.
In prior interviews, these marketers asserted they were securing cheaper prices overseas and urged Dangote Refinery to engage in discussions with stakeholders. However, the refinery countered this assertion, stating that only substandard products could be imported at such lower prices.
In a statement released late Sunday, Anthony Chiejina, the Group Chief Branding and Communications Officer for Dangote Refinery, emphasized that the company adheres to pricing benchmarks established by the Nigerian National Petroleum Company Limited (NNPCL). He noted that Dangote is even offering lower prices for shipments compared to the established market rates.
“We benchmark our prices against international prices and we believe our prices are competitive relative to the price of imports,” Chiejina explained. He further asserted, “If anyone claims they can land petrol 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.”
Chiejina also pointed out the lack of adequate regulatory facilities to detect such substandard imports, criticizing the National Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for its shortcomings.
He clarified that following deregulation, the NNPC established a price of N971 per litre for shipments and N990 for trucks. Dangote Refinery has reduced its price for shipments to N960 while maintaining the N990 rate for trucks. This pricing strategy was introduced without a clear exchange rate for crude oil purchases, demonstrating the company’s commitment to providing quality and affordable fuel in Nigeria.
Furthermore, he raised concerns about an international trading company that has recently acquired a depot adjacent to the refinery, alleging it plans to blend substandard products that could undermine the market for Dangote’s higher-quality fuels.
Chiejina concluded by calling for public vigilance against misinformation circulated by those wishing to see Nigeria continue to import fuel instead of supporting local refining initiatives. He reaffirmed the refinery’s mission to provide high-quality, domestically refined petroleum products while urging Nigerians to reject attempts to export jobs and import poverty.
