Dangote Warns IPMAN, Others: “Any Marketer Selling Petrol Cheaper Than Us is Importing Substandard Products.”

The New Diplomat
Writer

Ad

Audu Ogbeh: Tinubu, Obasanjo, Eminent Nigerians Mourn

By Abiola Olawale Eminent Nigerians have expressed sadness over the death of Chief Audu Ogbeh, former Minister of Agriculture and Rural Development and ex-National Chairman of the People’s Democratic Party (PDP). President Bola Ahmed Tinubu, former President Olusegun Obasanjo, and other prominent Nigerians have paid heartfelt tributes to the late statesman, describing him as a…

The Controversial East African Crude Oil Pipeline Is Nearing Completion

The East African Crude Oil Pipeline (EACOP), 64.5% complete, will connect Uganda’s oilfields to Tanzania’s Port of Tanga for global crude exports. Despite $3.6 billion already spent and new financing secured, the project continues to face backlash from human rights groups and environmental activists. Critics cite displacement of communities and threats to ecosystems, while developers…

2027: Amaechi Vows to Defeat Tinubu if He Wins ADC’s Presidential Ticket

• Accuses APC of diverting public funds for elections... By Abiola Olawale  Former Minister of Transportation and two-term governor of Rivers State, Rotimi Amaechi, has asserted that he would defeat President Bola Tinubu in the 2027 Nigerian presidential election if he wins the presidential ticket of the Action Democratic Congress (ADC). Speaking during a Twitter…

Ad

By Kolawole Ojebisi

The Dangote Petroleum Refinery has said that its ex-depot price of petrol is N990 per litre for trucks and N960 per litre for ships, respectively, warning that anyone selling cheaper should have its operations examined.

It noted that any oil marketer that sells petrol cheaper than the price it? Is offering is importing substandard products.

The refinery made this disclosed this on Sunday in a statement issued to counter claims by some oil marketers that the cost of the product is higher than that of the imported petrol.

On November 1, the Independent Petroleum Marketers Association of Nigeria (IPMAN) had said petrol — also known as premium motor spirit (PMS) — from the refinery is more expensive than buying from other sources.

The National Assistant Secretary of IPMAN, Yakubu Suleiman, made this claim while speaking on Arise Television’s Morning Show programme.

Suleiman stated that the group’s members go for more affordable options at other depots across Nigeria than the high logistical costs associated with buying petrol from the Dangote refinery.

He had stressed that this is the reason the oil marketers vowed to import the commodity and sell it below the Dangote refinery price as well as the price being sold by the Nigerian National Petroleum Company (NNPC) Limited.

But responding to these claims, the Dangote refinery said its ex-depot price of petrol is N990 per litre for trucks and N960 per litre for ships, respectively.

The firm said that the prices are benchmarked against the international prices and the amount the NNPC sold to local marketers,

“We 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,” the statement reads.

“Both organisations claim that they can import PMS at lower prices than what is being sold by the Dangote Refinery. We benchmark our prices against international prices and we believe our prices are competitive relative to the price of imports.

“If 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.

“Unfortunately, the regulator (NMDPRA) does not even have laboratory facilities which can be used to detect substandard products when imported into the country.”

The refinery also alleged that an international trading company is planning to blend substandard products close to its plant.

“…an 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,” the company said.

“This 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.

“For example, the US and Europe have had to impose high tariffs on EVs and microchips in order to protect their domestic industries.”

The company said it is committed to providing affordable, good-quality, domestically refined petroleum products for Nigerians.

The refinery called on the public to ignore “deliberate disinformation being spread by those who favour Nigeria continuing to export jobs and import poverty”.

Ad

X whatsapp