The Dangote Group has addressed allegations circulating from groups such as the Independent Petroleum Marketers Association of Nigeria (IPMAN), Petroleum Retail Outlets Owners Association of Nigeria (PETROAN), and other associations, claiming that the Dangote Refinery’s Premium Motor Spirit (PMS) prices are unnecessarily high. The statement, signed by Anthony Chiejina, Group Chief Branding and Communications Officer, rebuts these claims, emphasizing Dangote’s commitment to competitive pricing and quality standards.
Dangote Group explains that its pricing structure for PMS is benchmarked against international rates, ensuring affordability and quality compared to the alleged substandard alternatives entering the Nigerian market. The statement argues that if other organizations are indeed importing fuel at lower prices, the products might be of inferior quality, possibly harming consumers and their vehicles. The company expressed concern over the lack of laboratory facilities by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to properly assess the quality of imported fuel.
Highlighting recent industry benchmarks, the statement notes that after the deregulation of the sector, the Nigerian National Petroleum Corporation (NNPC) set the price of PMS at N971 per liter for vessels and N990 per liter for trucks. To stay competitive, Dangote has reportedly lowered its price to N960 per liter for ships and maintained N990 for trucks.
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In a show of national interest, Dangote Group claims to have adjusted its pricing in line with the government-set benchmarks despite uncertainties about the crude oil exchange rate. This move, it says, reflects Dangote’s commitment to providing high-quality, affordable petroleum products domestically.
The statement also reveals that a new international trading company has set up a depot next to the Dangote Refinery with plans to blend and distribute lower-quality fuel, potentially undercutting Dangote’s refined product. According to Dangote, this could undermine the growth of Nigeria’s local refining industry, a scenario that the company warns could be detrimental to the country’s economy. Citing global examples, the statement references protective measures employed by the United States and Europe to safeguard domestic industries, such as imposing tariffs on electric vehicles and microchips.
Dangote Group has called on the public to disregard what it describes as “deliberate disinformation” spread by agents advocating for continued imports.
