The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has criticized Dangote Petroleum Refinery for selling petrol at N990/litre, citing unfair concessions during construction.
Key Points:
- PETROAN claims imported petrol is cheaper, with a landing cost of N978/litre as of October 31, 2024.
- Dangote Refinery alleged PETROAN and IPMAN plan to import substandard products.
- PETROAN denies allegations, insisting they will sell high-quality petrol at a lower price.
- Association plans to import petrol before December 2024, pending regulatory approval.
PETROAN Publicity Secretary Joseph Obele stated, “PETROAN will sell far less than the current selling rate of PMS in Nigeria when granted an import license.” He emphasized the importance of competition, saying, “Consumers get the best value for pricing when competition is at its peak.”
Obele criticized Dangote Refinery’s pricing, citing unfair concessions and failure to disclose production costs. “A nation that gave you concessions shouldn’t have a pricing template based on international selling rates, but rather cost of production plus fair margin.”
PETROAN has partnered with foreign refineries and financial institutions to import high-quality petrol, countering allegations of importing substandard products. The association aims to enter the market before December 2024, pending regulatory approval.
Dangote Refinery’s pricing has sparked controversy, with PETROAN and IPMAN announcing plans to sell petrol at lower prices. The dispute highlights tensions in Nigeria’s downstream sector, with calls for fair competition and transparent pricing.
