• Contact Us
  • About Us
Tuesday, August 26, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Oil & Gas

Hold NNPCL Responsible For High Petrol Price- Dangote

metro by metro
November 4, 2024
in Oil & Gas
0
For Failing To Pay Balance, NNPCL No Longer Owns 20% Of Dangote Refinery, Says Aliko Dangote
0
SHARES
0
VIEWS

 

*Says Refinery Sells For N960/Litre To Ships, N990/Liter For Trucks

Read Also

NUPRC: Nigeria’s Crude oil Output Rises 10% To 1.71m Bpd In July, Yet To Meet 2025 Budget’s 2.06m Target

Oil Prices Edge Up As Traders Weigh Supply Risks

Alleged Fraud: Court Freezes Four Accounts  In Jaiz Bank Linked To Ex-NNPCL Boss, Kyari

After the blame game and hide and seek exercises that have continued to impoverish Nigerians with high petrol price, Dangote Refinery has finally disclosed that it sells
its Premium Motor Spirit (PMS) at N990 per litre in trucks and N960 per litre into ships.

The Dangote Refinery also claimed the price is cheaper than what the Nigerian National Petroleum Company Limited (NNPCL) sells to retailers.

The disclosure follows the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) claim of importing the products at cheaper rates compared to that of Dangote.

The marketers had in an earlier interview claimed that they are buying at cheaper rates abroad while calling on Dangote Refinery to engage stakeholders.

But in its reaction, the refinery said that it is only substandard products that can be imported at cheaper rates than its own products.

In a statement released Sunday night and signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, Dangote Refinery noted that it followed the pricing benchmark by the Nigerian National Petroleum Company Limited (NNPCL), adding that it went lower in pricing for selling into ships.

It reads, “Both organisations claim that they can import PMS at lower prices than what is being sold by the Dangote Refinery. We benchmark our prices against international prices and we believe our prices are competitive relative to the price of imports.

“If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products and conniving with international traders to dump low-quality products into the country, without concern for the health of Nigerians or the longevity of their vehicles. Unfortunately, the regulator (NMDPRA) does not even have laboratory facilities which can be used to detect substandard products when imported into the country.

ALSO READ:Direct Lifting Of Petrol From Dangote Will Crash Prices, Oil Marketers Assure Nigerians

“Post deregulation, NNPC set the pace by selling PMS to domestic marketers at N971 per litre for sale into ships and at N990 for sale into trucks. This set the benchmark for our pricing and we have even gone lower to sell at N960 per litre for sale into ships while maintaining N990 per litre for sale into trucks.

“In good faith, and in the interest of the country, we commenced sales at these prices without clarity on the exchange rate that we will use to pay for the crude purchased.

“At the same time, an international trading company has recently hired a depot facility next to the Dangote Refinery, to use it to blend substandard products that will be dumped into the market to compete with Dangote Refinery’s higher quality production.

“This is detrimental to the growth of domestic refining in Nigeria. We should point out that it is not unusual for countries to protect their domestic industries to provide jobs and grow the economy. For example, the US and Europe have had to impose high tariffs on EVs and microchips to protect their domestic industries.

“While we continue with our determination to provide affordable, good quality, domestically refined petroleum products in Nigeria, we call on the public to disregard the deliberate disinformation being circulated by agents of people who prefer for us to continue to export jobs and import poverty.”

Previous Post

Oil Rallies On Report Iran Planning Israel Attack Via Proxies

Next Post

UNAIDS appoints the artist OUM as National Goodwill Ambassador in Morocco

Related Posts

NUPRC Extends 2024 Licencing Registration Bid Round By 10 Days
Oil & Gas

NUPRC: Nigeria’s Crude oil Output Rises 10% To 1.71m Bpd In July, Yet To Meet 2025 Budget’s 2.06m Target

August 26, 2025
Oil Prices Down On Swelling US Crude Stocks, Easing Middle East Tensions
Oil & Gas

Oil Prices Edge Up As Traders Weigh Supply Risks

August 25, 2025
Disquiet As Nigeria’s Naval Chief Disputes NNPCL, Petroleum Ministry’s Oil Theft Figures
Oil & Gas

Alleged Fraud: Court Freezes Four Accounts  In Jaiz Bank Linked To Ex-NNPCL Boss, Kyari

August 19, 2025
US Becomes Net Exporter Of Crude To Nigeria-EIA 
Oil & Gas

Oil Falls On Easing Russia Supply Concerns After Trump-Putin Meet

August 18, 2025
Next Post

UNAIDS appoints the artist OUM as National Goodwill Ambassador in Morocco

NUPRC Extends 2024 Licencing Registration Bid Round By 10 Days

NUPRC: Nigeria’s Crude oil Output Rises 10% To 1.71m Bpd In July, Yet To Meet 2025 Budget’s 2.06m Target

August 26, 2025
Falana Says Proposed Pay Rise For Politicians Insensitive, Ohanaeze Warns Of Public Backlash

Falana Says Proposed Pay Rise For Politicians Insensitive, Ohanaeze Warns Of Public Backlash

August 26, 2025

Choosing a broker? Here are the 5 signs of a reliable platform

August 26, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version