Tension as Marketers dump Dangote Refinery for imported petrol

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Notwithstanding the availability of Dangote Refinery petrol, the Nigerian Crude Oil Refiners Association has protested against an attempt by petroleum marketers to import Premium Motor Spirit (Petrol).

Eche Idoko, the CORAN publicity secretary, revealed this in a statement denouncing the action.

His remarks coincide with the discovery of a report claiming that, as a result of the Federal Government’s complete liberalisation of the downstream oil industry, 141 million litres of PMS are being transported to Nigeria via oil boats.

Recall that the Nigerian National Petroleum Company lifted Dangote Petrol on Monday and released a new pricing list for all of its retail locations nationwide.

The NNPCL reports that depending on the area, the price revisions will result in the sale of gasoline for between N950 and N1,019.22 per litre.

This comes after on Sunday, NNPCL trucks successfully removed petrol from the Dangote Refinery.

A pricing dispute has arisen between NNPC and Dangote Refinery as a result of the development. The state-owned company NNPC had insisted on purchasing Dangote Petrol at a pump price of N898 a litre, but the refinery located in Lagos, which produces 650,000 barrels of oil every day, disagreed.

But in their most recent action, petrol marketers—who were dissatisfied with Dangote Refinery’s pricing structure—had to take importation into account.

In response to the news, CORAN claimed that some imported petrol was blended in Malta or Togo and was of inferior quality.

“So I would assure you this regime will pay them way better than the regime of importing petroleum products, where they sell to us, substandard products blended in Malta or Togo and imported into our country,” Idoko stated.

He said that some people were worried that Dangote would turn into a monopoly and advocated for backward integration.

“The fear marketers are having is that Dangote will become a monopoly, but that has been taken care of by Dangote subscribing to our association.

“With the Petroleum Industry Act in place and all the agencies in play, there is no way that Dangote can become a monopoly”, he said.

Prior to being permitted for sale throughout the nation, imported petrol will undergo three tests, according to a previous announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

Concerns over petrol imports prompted NMDPRA spokesperson George Ene-Ita to make this revelation.

He emphasised that import licence holders were free to import PMS, but he also mentioned that the products needed to pass three significant agency tests.

Aliko Dangote, the president of the Dangote Group, had previously declared in May 2024 that Nigeria will no longer import fuel after the opening of his refinery.

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