Our Correspondent
In response to media claims from IPMAN, PETROAN, and other associations that they can import PMS at lower prices than those offered by Dangote, the Dangote Refinery has issued a challenge to these groups. It emphasized that its pricing is benchmarked against international standards.
This information was made available in a Press release signed by Mr. Anthony Chiejina, Group Chief Branding and Communications Officer of the refinery, shared with STENTORNEWS Online today, Sunday night.
“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 also read: “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.
“Since deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks.This set the benchmark for our pricing and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale intotrucks.
“In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.
“At the same time, an international trading company has recently hired a depot facility next to theDangote 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.
“This approach undermines domestic refining in Nigeria. Many countries protect their local industries to create jobs and strengthen their economies. For example, the US and Europe have imposed high tariffs on EVs and microchips to safeguard their domestic markets. We remain committed to providing affordable, high-quality, domestically refined petroleum products in Nigeria. We urge the public to disregard the deliberate misinformation being circulated by those who benefit from continued importation at the expense of domestic growth.” Statement added.
