In a statement issued on November 3, 2024, Anthony Chiejina, Chief Branding and Communications Officer of the Dangote Group, addressed recent claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN).
These groups allege that they can import Premium Motor Spirit (PMS) at prices lower than those offered by the Dangote Refinery.
Chiejina clarified that the Dangote Refinery benchmarks its prices against international standards, ensuring competitive rates within the current market landscape. He emphasized that any claims of substantially lower import costs likely involve substandard products, facilitated by foreign traders aiming to push lower quality fuel into the Nigerian market. Such practices, he asserted, put Nigerian health and vehicle safety at risk. He also noted that Nigeria’s regulatory authority, NMDPRA, currently lacks the laboratory facilities to detect these low-grade imports effectively.
Since deregulation, Dangote Refinery’s pricing has mirrored that of the Nigerian National Petroleum Company (NNPC), which initially set the price at N971 per liter for ship-based sales and N990 per liter for truck-based distribution. In response, the Dangote Group priced its PMS competitively at N960 per liter for ship sales, maintaining N990 per liter for trucks, even in the face of ongoing exchange rate uncertainties.
Chiejina also voiced concern over an international trading company operating a depot adjacent to the Dangote Refinery, reportedly preparing to blend substandard products to flood the market. Such practices, he argued, undermine Nigeria’s nascent domestic refining sector, which is crucial for job creation and economic resilience. He cited examples from the U.S. and Europe, where governments impose tariffs to protect domestic industries.
In closing, the Dangote Group called on the public to disregard these claims and expressed a commitment to delivering high-quality, locally refined petroleum products. The company remains focused on advancing Nigeria’s energy security and economic self-sufficiency while protecting the integrity of its products.
