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At last, Dangote Petroleum Refinery has revealed the price it sells Premium Motor Spirit, commonly known as petrol, to marketers, just as it lambasted the Nigerian Midstream and Downstream Petroleum Regulatory Authority for failing in its regulatory role.
The Chief Corporate Communications Officer of Dangote Industries Limited, Anthony Chiejina, made this known in a statement on Sunday.
Chiejina said in the statement that the template for its petrol price was fixed by the Nigerian National Petroleum Corporation Limited, adding that in the case of sale into trucks, it actually lowered the template by N11.
It also flaked the Independent Petroleum Marketers Association of Nigeria, Petroleum Products Retail Outlets Owners Association of Nigeria, and others who claimed they can import petrol cheaper than what is obtainable from Dangote Petroleum Refinery.
The statement said this was impossible because NNPCL must approve and set the template for pricing.
The statement said: “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.
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“Both organisations 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.
“If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing sub-standard products and conniving with international traders to dump low quality products into the country, without concern for the health of Nigerians or the longevity of their vehicles.
“Unfortunately, the regulator, NMDPRA, does not even have laboratory facilities which can be used to detect sub-standard products when imported into the country.
“Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks. This set the benchmark for our pricing and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.
“In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.”
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