- Dangote Group discussed its commitment to high-quality and affordable Premium Motor Spirit (PMS)
- The group warned that cheaper imported petrol poses risks to consumers and vehicles
- The group also raised concerns over an international trading company’s plans to undermine local refining
In light of recent criticism from petroleum industry associations, the Dangote Group has stood by the pricing and quality of its Premium Motor Spirit (PMS), claiming that cheaper imported petrol is of inferior quality and poses risks to both consumers and vehicles.
This was disclosed in a statement by Anthony Chiejina, Group Chief Branding and Communications Office of the Dangote Group on Sunday, November 3, which responded to claims from the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) suggesting that imported Premium Motor Spirit (PMS) could be sold at lower prices than those provided by Dangote.
Dangote justifies PMS prices
Chiejina said, “We benchmark our prices against international prices, and we believe our prices are competitive relative to the price of imports,” adding that any claims to undercut Dangote's pricing would probably rely on substandard imports that threaten the quality of products accessible to Nigerians.
Dangote Refinery reiterated its commitment to keeping prices affordable by announcing that its PMS price is set below the Nigerian National Petroleum Corporation's (NNPC) post-deregulation benchmark.
With prices set at N960 per litre for ships and N990 for trucks, Dangote's Premium Motor Spirit (PMS) is offered at lower rates than the Nigerian National Petroleum Corporation’s (NNPC) prices of N971 for ships and N990 for trucks.
Dangote raises concerns over international company near its operations
Chiejina also raised alarms about an international trading company establishing a depot near Dangote’s operations, with plans to blend substandard products to create unfair competition for Dangote’s locally refined Premium Motor Spirit (PMS).
He warned that such companies’ actions could jeopardise Nigeria’s domestic refining industry, essential for fostering economic growth, creating jobs, and lessening reliance on imported products.
“Countries around the world protect their domestic industries to sustain growth, jobs, and innovation,” Chiejina stated, referencing protective tariffs on electric vehicles and microchips in the United States and Europe.
Dangote emphasised the group’s mission to deliver high-quality and affordable PMS to Nigerians and called on the public to reject any deliberate disinformation intended to sabotage the refinery's initiatives.
Oil marketers secure tank farms for petrol imports amid supply challenges from Dangote refinery
Meanwhile, TheRadar earlier reported that Festus Osifo of the Trade Union Congress emphasised the need for alternative petrol sources amid production shortfalls.
The Independent Petroleum Marketers Association of Nigeria reportedly acquired tank farms in Calabar and Lagos for petrol importation.