Dangote Responds To Claims Of Lower Fuel Prices By Competitors

Dangote Group has issued a statement refuting recent claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) that they can import Premium Motor Spirit (PMS) at lower prices than those set by the Dangote Refinery.

The company argues that its pricing is competitive when benchmarked against international rates.

In the statement on Sunday by Anthony Chiejina, the Group Chief Branding and Communications Officer, emphasized that any claims of cheaper imports are likely linked to the introduction of substandard products into the Nigerian market.

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“If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products,” Chiejina said.

He expressed concern over the potential health risks posed to Nigerians and the impact on vehicle longevity due to low-quality fuel.

Post-deregulation, the Nigerian National Petroleum Corporation (NNPC) set a benchmark price of N971 per litre for PMS sold to domestic marketers, which was then adjusted to N990 per litre for truck sales. In response, Dangote has lowered its prices to N960 per litre for ship sales while maintaining the N990 rate for truck deliveries.

Chiejina pointed out that these prices were set without clarity on the exchange rate for crude oil purchases, highlighting the challenges faced by domestic refiners.

He also noted that an international trading company has established a depot adjacent to the Dangote Refinery, allegedly to blend substandard products aimed at undercutting Dangote’s higher-quality offerings.

The statement called for public support of domestic refining efforts, urging Nigerians to reject the misinformation spread by competitors.

“We are committed to providing affordable, good-quality, domestically refined petroleum products in Nigeria,” Chiejina asserted, stressing the need for the nation to protect its industries to promote job growth and economic development.