PRESS STATEMENT

We had lately refrained from engaging in media fights, but we are constrained to respond to the recent misinformation being circulated by IPMAN, PETROAN, and other associations.

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.

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, with the objective of using 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 in order to provide jobs and grow the economy. For example, the US and Europe have had to impose high tariffs on EVs and microchips in order to protect their domestic industries.

While we continue with our determination to provide affordable, good quality, domestically refined petroleum product 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.

Anthony Chiejina
Group Chief Branding and Communications Officer
3rd November, 2024

Toh

The battle of the Titans has just begun

Now that he has revealed the price did he die ?

The way he was protecting the selling price of his PMS , one would’ve thought his whole life depended on it . 😏

Now he’s claiming NMDPRA does not have laboratory to detect substandard products imported into the country . If those ones come out to refute his claim tomorrow , he will issue another press release .

Can this man just allow those that want to import do so and let him that wants to produce locally do so ? Why must the importers die for him to live ? 🤷‍♂️.

You get crude in your back yard and don’t have to expend transport cost , yet u are benchmarking ur PMS against international price and selling at almost a thousand naira per liter . Yet u want FG to stop importers from bringing in products which they sell almost at the same price as urs .

This Alhaji never ready .

The more you look the less you see

treesun:
PRESS STATEMENT

We had lately refrained from engaging in media fights, but we are constrained to respond to the recent misinformation being circulated by IPMAN, PETROAN, and other associations.

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.

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, with the objective of using 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 in order to provide jobs and grow the economy. For example, the US and Europe have had to impose high tariffs on EVs and microchips in order to protect their domestic industries.

While we continue with our determination to provide affordable, good quality, domestically refined petroleum product 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.

Anthony Chiejina
Group Chief Branding and Communications Officer
3rd November, 2024

Nlfpmod, this Dangote refinery, the more you know, the less you understand. The press statements are more than trucks loading.

BlueRayDick:
Now that he has revealed the price did he die ?

The way he was protecting the selling price of his PMS , one would’ve thought his whole life depended on it . 😏

Now he’s claiming NMDPRA does not have laboratory to detect substandard products imported into the country . If those ones come out to refute his claim tomorrow , he will issue another press release .

Can this man just allow those that want to import do so and let him that wants to produce locally do so ? Why must the importers die for him to live ? 🤷‍♂️.

That man with his monopolistic business tactics has been the problem of Nigeria for ages. Wind don dey blow now, e be like say his yansh go open.

Nigeria wey don dey import fuel since independence but na now this one dey talk about substandard product.

You claimed to be selling an high quality product at a competitive price but it took a lot of media wars to get you to disclose that price. People need to see beyond the antics of this Dangote guy

Just see how he is already trying to use his antics to damage a competitor already building a similar market close to his own, where did he get the report from that they plan to bring in substandard products? Why is he telling us now?

Dangote thinks Nigerians are daft like his northern almajiri brothers. Who doesn't know that petrol for instance comes with different octane ratings and standards. Even in developed countries you have the choice to buy petrol of different standards, this is a common thing!

All new entrants should be welcomed. This one is not going to be like cement. You cannot remove subsidy and give monopoly to one sadistic man. Let the consumers decide who to purchase from, if his refinery cannot offer cheaper gas to Nigerians then he should get lost.

mushroomFarm:


That man with his monopolistic business tactics has been the problem of Nigeria for ages. Wind don dey blow now, e be like say his yansh go open.

Nigeria wey don dey import fuel since independence but na now this one dey talk about substandard product.

Leave him, let him keep dribbling himself and trying to manipulate people emotionally . Look at him talking about US and European countries protecting domestic market ; as if those domestic producers set out to milk their own people dry .

Make we no go turn Dangote to national treasure o.

Is like Dangote is now becoming something else, can he just announce the price he is selling to marketer. What is all this forth and back for

No credit for revealing price now after so much outcry. There is definitely something sinister about Dangote's reluctance which becomes obvious now the he has revealed. Where is the deficit in transportation cost from Europe to Nigeria waters as applicable to importers?
And secondly, he should not forget that we have been using imported pms even before he conceived the idea of owning a refinery, so he shouldn't harp on imported fuel being substandard

So Dangote thinks he is the only one that sells quality fuel than others so he can jack up the price even when the raw materials for the fuel is source in nigeria?Why are his products,from cement,beverages and fuel sells at international prices?Is he an international businessman?

For some of us that have little knowledge about combustion engines.Contaminatated or substandard fuel doesnt damage engines.They don't go inside your car engine at all.They go inside your car carburettor where the cylinder block and piston create a stroke and it come out from the exhaust.
They can only stall your engine temporary.This is because contaminants has enters into your car fuel tank and line that goes to the cylinder block that creates combustion and block your car combustion process.
Fuel doesn't go inside your car engine at all.Dont let your mechanic fool you.
Even engine oil that propels your car engine cannot knock or damage it completely.If a professional mechanic disassemble the car engine, service it and pour the original factory made engine oil,your car will come back to life.

It's obvious that Tinubu, NNPCL and Dangote are working together to improverish Nigerians

Good

The market will stabilize.

This is a new thing so everyone is trying to find their feet.