We sell gasoline at a lower price of N960 for ships and N990 for trucks, says Dangote Refinery

The management of the Dangote Refinery has announced that it is selling petrol at a reduced price of N960 per liter for sea shipments and N990 per liter for truck shipments.

This statement was made on Sunday by a representative of the oil refinery, Anthony Kiezhina.

The announcement follows a dispute between Dangote and fuel traders in which marketers claim that imported petrol costs less than the refinery’s output.

Responding to these claims, Kiezhina explained that the 650,000 barrels per day (bpd) refinery had adjusted its prices following deregulation imposed by national oil company NNPC.

The Dangote Refinery noted that while NNPC had set prices at N971 for ship sales and N990 for truck sales, the refinery had decided to set the price at N960 for ship sales while maintaining the truck price at N990.

“We have refrained from fighting in the media recently, but we are forced to respond to the recent misinformation spread by IPMAN, PETROAN and other associations.

Both organizations claim that they can import PMS at lower prices than what the Dangote refinery sells. We compare our prices with international prices and believe that our prices are competitive with import prices.

“After deregulation, NNPC set the pace by selling PMS to domestic traders at N971 per liter for sale on ships and N990 for sale on trucks. This set a benchmark for our prices and we even reduced the price to N960 per liter for sale to ships while maintaining N990 per liter for sale to trucks.

“In good faith and in the best interest of the country, we began selling at these prices without clarity as to the exchange rate we would use to pay for the purchased oil,” The statement was read in part.

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Speaking further, Dangote said his prices are in line with international standards and any imported petrol sold at a lower price is likely to be substandard.

Kiezhina noted that this may be the case as the regulatory body NMDPRA currently lacks laboratory equipment to test the quality of gasoline imported into the country.
He added that those who sell low-quality fuel care little about people’s vehicles and equipment and do not put the interests of society at the forefront.
In addition, the representative stressed that there is nothing wrong with the federal government protecting its local industry, as is practiced in other countries.

“If anyone claims that they can sell PMS at a price lower than what we sell, then they are importing substandard products and conniving with international traders to dump substandard products into the country without any regard for the health of Nigerians or the longevity of Nigerians. your vehicles.

“Unfortunately, the regulator (NMDPRA) does not even have laboratory equipment that could be used to identify substandard products when imported into the country.

“We must note that countries often protect their domestic industries to provide jobs and grow the economy. For example, the US and Europe have had to impose high tariffs on electric vehicles and microchips to protect their domestic industries.” Dangote added.