Dangote Refinery Defends Petrol Prices Amid Criticism From Marketers

Dangote Refinery's Group Chief Branding and Communications Officer Anthony Chiejina has revealed that the refinery sells petrol at N960 per liter for ships and N990 per liter for trucks.

The announcement came after many marketers claimed that its prices were higher than those of other suppliers, noting that this makes it difficult for independent marketers to purchase from Dangote Refinery.

"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," Chiejina said, Premium Times reported.

"Both organizations 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."

After deregulation, NNPC started selling petrol to domestic marketers at N971 per liter for ships and N990 per liter for trucks, setting a standard for others. However, Dangote Refinery has lowered its price to N960 per liter for ships, while keeping the price at N990 per liter for trucks.

In good faith and for the benefit of the country, the refinery began selling at these prices without knowing the exchange rate they would use to pay for the crude oil they purchased.

Chiejina noted that it was common for countries to protect their domestic industries to create jobs and boost the economy. For instance, the U.S. and Europe have imposed high tariffs on electric vehicles and microchips to support their local industries.

He emphasized that while they remained committed to providing affordable, high-quality, locally refined petroleum products in Nigeria, they urged the public to ignore false information spread by those who wanted the country to continue exporting jobs and importing poverty.

Last week, National Assistant Secretary of IPMAN Yakubu Suleiman said Dangote's petrol price was higher than that of other suppliers, noting that the international price of crude oil has begun to decrease, but Dangote was selling at N995 per liter, and buyers had to arrange their cargo and loading.

Suleiman raised concerns about the costs involved, such as how much it would cost for the cargo and the fees for the depot, questioning whether independent marketers could realistically sell the petrol at those prices. He emphasized the need to consider the struggles of Nigerians in this situation.