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By Samaila Emmanuel Bzugu
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has rejected allegations by Dangote Refinery that it plans to import substandard petroleum products. Instead, PETROAN insists it can sell petrol at a lower price than Dangote Refinery’s current offer.
The association has partnered with foreign refineries and financial institutions to import high-quality Premium Motor Spirit (PMS) and sell it at a lower rate
In a statement, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, said the association has partnered with foreign refineries and financial institutions to import high-quality Premium Motor Spirit (PMS) and sell it at a lower rate.
PETROAN criticized Dangote Refinery’s pricing strategy, stating that it considers only international market rates, ignoring production costs and concessions received. The association argued that Dangote’s price of N990 per liter is inconsiderate, given the refinery’s access to favorable foreign exchange rates during construction.
Dangote Refinery had accused PETROAN of planning to make Nigeria a dumping ground for substandard products, but PETROAN maintains its commitment to quality and affordability
PETROAN commended President Bola Tinubu’s efforts to liberalize the downstream sector, promoting competition and consumer benefits. The association urged the privatization of Port Harcourt and Warri refineries to reputable firms, ensuring efficient operations and competitiveness.
Dangote Refinery had accused PETROAN of planning to make Nigeria a dumping ground for substandard products, but PETROAN maintains its commitment to quality and affordability. The dispute highlights tensions between Dangote Refinery and PETROAN, with implications for Nigeria’s downstream oil sector and consumer prices.
