Dangote Refinery: Locally Produced PMS Cheaper Than Imports
In response to recent claims by industry groups, including the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Retail Outlet Owners Association of Nigeria (PETROAN), Dangote Refinery has addressed assertions that Premium Motor Spirit (PMS) can be imported at lower prices than those offered by the refinery.
According to a press statement released on 3rd November 2024 by Anthony Chiejina, Group Chief Branding and Communications Officer for Dangote Refinery, the company benchmarks its prices against international standards and maintains that its locally refined PMS is competitively priced compared to imported alternatives.
“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,” the statement read, raising concerns about potential risks to vehicle longevity and health from inferior imported products.
Dangote Refinery further noted the lack of infrastructure within the regulatory framework to detect such substandard imports, with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) lacking testing facilities.
The statement pointed out that, post-deregulation, the Nigerian National Petroleum Corporation (NNPC) set prices at ₦971 per litre for ship sales and ₦990 per litre for truck sales. Dangote has followed this benchmark while offering the flexibility to adjust, with ship sales priced as low as ₦960 per litre.
Highlighting efforts to protect local industries, Dangote’s communication emphasised that developed economies, such as the United States and Europe, have measures in place to safeguard domestic production.
“While we continue with our determination to provide affordable, good quality, domestically refined petroleum products in Nigeria, we call on the public to disregard the deliberate disinformation being circulated by bodies who prefer to rely on imports to exploit jobs and import poverty,” Chiejina stated.
The statement also referenced an unnamed international trading company’s recent establishment of a depot close to the Dangote Refinery, raising concerns that this might facilitate the dumping of substandard fuel in the market, undermining local efforts to ensure quality control.
As Dangote Refinery continues to supply PMS at competitive prices, the statement reiterated its commitment to quality, affordability, and supporting Nigeria’s economy amidst fluctuating global market conditions. Nigeria’s Top Five Banks Achieve 146 Trillion Assets
