The Dangote Refinery has announced its petrol prices, selling at N960 per litre for ship deliveries and N990 per litre for truck supplies. This pricing strategy, revealed in a Sunday statement by the refinery’s Group Chief Branding and Communications Officer, Anthony Chiejina, is positioned as a benchmark for quality amid claims that cheaper imported fuel may compromise standards.
Following Nigeria’s deregulation of fuel prices, the Nigerian National Petroleum Company (NNPC) initially set prices of N971 per litre for ship supplies and N990 per litre for truck deliveries. Dangote Refinery, in response, has adjusted its rates slightly lower for ship supplies, maintaining the N990 per litre for truck supplies. Chiejina stated, “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.”
Addressing reports from fuel marketers suggesting that imported petrol could be offered at lower prices, Dangote Refinery dismissed these claims, asserting that any cheaper products are likely of inferior quality. “We benchmark our prices against international standards. If anyone claims they can land PMS at a price cheaper than ours, then they are likely importing substandard products and working with international traders to dump low-quality fuel in the country, without considering the health of Nigerians or the longevity of their vehicles,” the statement read.
The refinery expressed concern over the potential for substandard imports to enter the Nigerian market, attributing the issue to the limited testing capabilities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). It argued that the agency’s current laboratory facilities may not be equipped to verify fuel quality adequately, potentially allowing low-grade products to circulate unchecked.
Highlighting the importance of supporting local industries, Dangote Refinery emphasized that its pricing aligns with international quality standards and protects Nigeria’s refining sector. Drawing parallels with practices in the U.S. and Europe, where tariffs protect domestic industries like electric vehicles and microchips, the refinery suggested similar support is crucial for Nigeria’s economic growth and job creation. “Countries worldwide protect their domestic industries to promote job creation and economic growth,” the statement noted.
In light of ongoing currency volatility, the company also shared that it commenced sales at current rates despite uncertainty over exchange rates needed for crude procurement. The refinery reaffirmed its commitment to delivering high-quality, locally refined petrol at competitive prices that reflect global standards and safeguard Nigerian consumers.
