Dangote Refinery has officially set its petrol prices, stating it sells at “N960 per litre for ship deliveries” and “N990 per litre for truck supplies.” This announcement comes as the company responds to claims from fuel marketers suggesting that imported petrol could be sold at lower prices.
In a statement released by Anthony Chiejina, the refinery’s Group Chief Branding and Communications Officer, the company asserted that any petrol priced below its rates is likely substandard. “Post 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,” Chiejina detailed.
He emphasized that Dangote has undercut this industry benchmark, noting, “We have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.” This pricing strategy aims to reinforce the refinery’s commitment to quality and affordability.
Despite the competitive pricing, some oil marketers have claimed that cheaper imported fuel exists. However, the Dangote Refinery firmly dismissed these allegations, warning that any lower-priced imports might compromise quality. “We benchmark our prices against international standards,” the statement stressed, raising concerns about the implications of using substandard fuel.
Chiejina cautioned, “If anyone claims they can land PMS at a price cheaper than ours, then they are likely importing substandard products.” He pointed out the potential risks associated with using lower-quality fuel, which could negatively affect consumer health and vehicle performance.
The refinery also highlighted regulatory issues, stating that the Nigerian Midstream and Downstream Petroleum Regulatory Authority lacks adequate laboratory facilities to assess the quality of imported fuel effectively. This regulatory gap could allow substandard products to enter the market without proper scrutiny.
Reiterating the need for support for local refining, the Dangote Refinery stated that its pricing aligns with global standards. “Countries worldwide protect their domestic industries to promote job creation and economic growth,” the statement noted, citing protective measures taken in the U.S. and Europe as examples.
In conclusion, the refinery reaffirmed its commitment to providing high-quality, Nigerian-refined petrol at competitive prices. “We commenced sales at these rates in good faith, even without full clarity on the exchange rate we would use to pay for crude purchases,” the statement concluded, underscoring the company’s dedication to quality and local industry support.
