Dangote Refinery Clarifies Petrol Price, Sells at N990 per Litre

IPMAN, Dangote Reach Deal for Direct Lifting of Petrol
Dangote refinery
IPMAN recently argued that imported PMS is more affordable than that supplied by Dangote Refinery, with some marketers claiming that the high price at Dangote’s facility limits their profitability.

Lagos, Nigeria — Dangote Refinery has responded to claims from the Independent Petroleum Marketers Association of Nigeria (IPMAN) regarding the cost of premium motor spirit (PMS), commonly known as petrol, from its facility.

In a recent statement, the refinery emphasized that its pricing is competitive and warned that any significantly cheaper PMS available on the market could be of substandard quality.

IPMAN recently argued that imported PMS is more affordable than that supplied by Dangote Refinery, with some marketers claiming that the high price at Dangote’s facility limits their profitability. “If Dangote has a product selling for N1,000 and another place sells for N900, we must choose the lower price to maximize profit,” said a representative from IPMAN.

Addressing these concerns, Anthony Chiejina, Group Chief Branding and Communications Officer for Dangote, described IPMAN’s assertions as “misinformation.” According to Chiejina, Dangote Refinery has set its prices at N960 per litre for sale into ships and N990 per litre for sale into trucks, benchmarks that reflect international market rates.

He noted that this pricing is consistent with post-deregulation figures set by the Nigerian National Petroleum Company (NNPC), which previously sold PMS at N971 per litre for ships and N990 per litre for trucks.

Chiejina stated that the refinery is committed to offering high-quality, domestically refined PMS and accused certain international traders of importing low-grade fuel that could harm vehicles and the environment. “If anyone claims they can land PMS cheaper than our rates, then they are likely importing substandard products with no regard for Nigerians’ health or vehicle safety,” he stated.

He further noted that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) currently lacks adequate laboratory facilities to detect such substandard imports.

According to the statement, an international trading company recently hired a depot facility adjacent to Dangote Refinery, allegedly to blend low-quality fuel to compete against Dangote’s products. Chiejina argued that this tactic undermines Nigeria’s domestic refining efforts, citing examples from the U.S. and Europe, where high tariffs protect local industries and support economic growth.

The refinery reiterated its commitment to providing “affordable, high-quality, domestically refined petroleum products” and urged the public to disregard misinformation about its pricing. “This disinformation is coming from entities interested in keeping Nigeria dependent on fuel imports, which ultimately harms our economy and exports jobs,” the statement read.


Copyright 2024 REPORT AFRIQUE (RA). Permission to use portions of this article is granted provided appropriate credits are given to www.reportafrique.com and other relevant sources.This Article is Fact-Checked. See Policy.
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