The Dangote Refinery has raised concerns over an alleged scheme by an international trading company to sell substandard petroleum products in Nigeria, saying the firm opened a blending plant near its 650,000 bpd refinery in Ibeji-Lekki.
In a press statement on Sunday, Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina, stated that the move threatens the nation’s refining industry and public safety.
The refinery disclosed that an unnamed international firm had rented a depot facility near its premises to blend and market low-quality petroleum products. The firm claimed these products would be sold at prices undercutting those offered by Dangote.
Tribune Online reports that Dangote Refinery responded to claims from the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) that they could import Premium Motor Spirit (PMS) at lower rates than those offered by Dangote Refinery. The company maintained that its prices are benchmarked against international standards.
The refinery suggested that products sold at rates lower than its own are likely substandard, accusing certain marketers of collaborating with foreign traders to flood the market with low-quality fuel.
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Speaking about the new depot facility opened by the international firm to blend petrol, Dangote said the products would be dumped into the market to compete with its high quality.
The statement partly reads: “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 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.”
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