According to the statement,“We benchmark our prices against international standards, and we believe they are competitive relative to import prices,” Chiejina stated. “If anyone claims they can land PMS at a cheaper price, they are likely importing substandard products and conniving with international traders to flood the country with poor-quality fuel. This not only risks the health of Nigerians but also the longevity of their vehicles.”
Chiejina further criticized the National Petroleum Regulatory Authority (NMDPRA), stating that the regulator lacks laboratory facilities to detect substandard products imported into Nigeria.
He highlighted that since deregulation, NNPC has led the market by selling PMS to domestic marketers at benchmark prices of N971 per litre for ship sales and N990 per litre for truck sales. Dangote Refinery, he added, had further reduced prices to N960 per litre for ships, maintaining N990 for trucks.
“In good faith and in the country’s interest, we commenced sales without full clarity on the exchange rate for crude purchases,” Chiejina explained. He noted that an international trading company recently hired a depot near the refinery with the intent to blend and distribute substandard products to compete with Dangote’s higher-quality offerings.
“This is detrimental to the growth of domestic refining in Nigeria. It’s common for countries to protect their industries to ensure job creation and economic growth, as seen with the US and Europe imposing high tariffs on products like electric vehicles and microchips.”
Reaffirming Dangote Refinery’s commitment to providing quality, affordable, domestically refined fuel, Chiejina urged the public to ignore “the deliberate disinformation” by those opposing domestic industry growth.
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