Aliko Dangote, President of Dangote Refinery, has declared that the petrol generated by his refinery is less expensive than imported fuel. This is in reaction to claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Retail Outlets Owners Association of Nigeria (PETROAN).
Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina, stated that the company’s petrol pricing are competitive and meet international standards. He argued that any lower-cost imported gasoline could be of poor quality and involve unethical business activities against foreign commerce.
Dangote explained their pricing, “The NNPC set the initial price at N971 per litre for petrol sold to ships and N990 for trucks. We offer our petrol at N960 per litre to ships and keep it at N990 per litre for trucks.” He noted that these prices were set fairly, even though they were not sure about the exchange rates for buying crude oil.
He was especially concerned about a nearby depot next to the Dangote Refinery, where a foreign corporation mixes lower-quality items for sale. This could have a negative impact on Nigeria’s refining capability and the quality of petrol in the market.
Dangote also stated that it is usual for countries to safeguard their businesses in order to stimulate the economy and create jobs. He went on: “For example, the USA and Europe impose high tariffs on imported electric vehicles and microchips to protect their local industries.”
He concluded by encouraging the public to avoid false information spread by those who benefit from Nigeria’s petroleum imports. He is still devoted to supplying economical, high-quality gasoline from his refinery in Nigeria.
