Dangote Refinery Sells Petrol at N960 Per Litre to Ships

Dangote Refinery has revealed its petrol pricing, stating it sells at N990 per litre for truck deliveries and N960 per litre for ship deliveries.

This disclosure follows claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) that they can import petrol at cheaper rates than those offered by Dangote.

The marketers had previously asserted in an interview that they could source petrol more affordably abroad, calling on Dangote Refinery to engage with stakeholders.

However, in its response, the refinery argued that only substandard products could be imported at rates lower than its own.

In a statement issued on Sunday night and signed by Group Chief Branding and Communications Officer, Anthony Chiejina, Dangote Refinery clarified that it adheres to the pricing benchmark set by Nigerian National Petroleum Company Limited (NNPCL) and has even reduced prices for ship deliveries.

The statement reads: “Both organisations claim they can import PMS at lower prices than what Dangote Refinery offers. We base our prices on international benchmarks, and we believe they are competitive relative to import prices.

“If anyone claims they can bring in PMS at a cheaper rate than ours, they are likely importing substandard products and collaborating with international traders to dump low-quality fuel into the country, disregarding both Nigerians’ health and the longevity of their vehicles. Unfortunately, the regulator (NMDPRA) lacks laboratory facilities capable of detecting substandard products upon import.

“Following deregulation, NNPC set a benchmark, selling PMS to domestic marketers at N971 per litre for ship deliveries and N990 for truck deliveries. We have matched this benchmark, offering N960 per litre for ship sales while maintaining N990 per litre for truck sales.

“In good faith, and in the national interest, we began sales at these prices without a clear understanding of the exchange rate to be used for crude oil payments.

“Meanwhile, an international trading company has recently leased a depot next to the Dangote Refinery to blend substandard products, intending to compete with our high-quality production. Such actions threaten the growth of domestic refining in Nigeria. It’s worth noting that many countries protect their industries to create jobs and support their economies; for instance, the US and Europe have imposed high tariffs on EVs and microchips to safeguard their domestic industries.

“As we remain committed to providing Nigerians with affordable, high-quality, locally refined petroleum products, we urge the public to ignore the deliberate disinformation circulated by individuals who would rather see jobs exported and poverty imported.”

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